The Bank of New York Mellon Corporation (BNY Mellon) confirmed today that it is backing crypto trading platform Pure Digital, alongside other banks.
This would indicate that BNY Mellon and another major custody bank, State Street, are recording increased interest in crypto from their clients.
The CEO of Pure Digital, Lauren Kiley, commented: “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.”
State Street confirmed three months ago that it was backing the platforms. Alongside them, other four banks are doing the same, but their names haven’t been confirmed yet.
The global head of foreign exchange at BNY Mellon, Jason Vitale, declared: “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.”