BNY Mellon takes bet on cryptocurrencies with new digital innovation hub

Banking giant’s Dubin-based hub will act as a custodian for digital assets

30th May, 2021
BNY Mellon takes bet on cryptocurrencies with new digital innovation hub
Lory Kehoe, director of digital assets and Blockchain, and Paul Kilcullen, chief executive at BNY Mellon, which is creating a new unit in Ireland for digital assets. Picture: Fergal Phillips

BNY Mellon, the banking giant, is betting on the future of bitcoin and other cryptocurrencies by creating a new hub in Ireland which will allow clients to hold, transfer and issue digital assets.

The bank, which entered the Irish market in 1994, has established a ’Digital Innovation Hub’ in Dublin, which is regulated by the Central Bank to act as a custodian for digital assets such as bitcoin, non-fungible tokens, central bank digital currencies and...

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