BNY Mellon Will Support Bitcoin Trading Platform Pure Digital

BNY Mellon will support Bitcoin trading platform Pure Digital, joining State Street and other banks in the crypto foray as we take a closer look at today’s BTC news.

The Bank of New York Mellon Corporation announced it will join State Street Corporation and four other banks in backing Pure Digital, a London-based crypto trading platform. As per the reports from the Financial Times, the move suggests that the banks are now seeing an increase in interest in crypto from their clients as CEO Lauren Kiley explained:

“We have spoken to all the top-tier banks but we think custody banks were some of the first to see demand, so they are now more advanced.”

Apart from State Street and BNY Mellon, the first one announced support for the platform three months ago as the crypto marketplace is backed by another four but unnamed. Alongside State Street, BNY Mellon will support Pure digital, the bank also plans to trade on a platform as well as to offer other services like technology. Jason Vitale, the global head of foreign exchange at BNY Mellon said:

“Digital assets are only going to become more embedded in global markets in the years ahead, and this collaboration accords with BNY Mellon’s wider strategy to develop a digital asset capability for clients across the entire trade life cycle.”

Campbell Adams who is a co-founder of Pure Digital, revealed that the platform plans to launch a trading service in one week starting with Bitcoin. BNY Mellon revealed to add support for BTC on behalf of the asset-management clients and two months later, the bank announced a new crypto unit in Dublin that will allow clients to transfer, hold and issue digital assets.

As reported recently, Despite the bearish sentiments, BNY Mellon launches a Bitcoin custodian in Ireland, hoping to expand its crypto operations in the country. The central bank enforcer Derville Rowland said that the rising popularity of crypto assets like BTC was of major concern in an interview today. Rowland was speaking in an interview after BNY Mellon announced a new crypto unit in Dublin that will allow clients to hold, transfer and issue digital assets. The new Digital Innovation Hub will be regulated by the Central Bank will act as a custodian for digital assets like NFTs and Bitcoin but also central bank digital currencies.