Bank of New York Mellon said its digital asset custody platform is being expanded to selected institutional clients in the European Union under the Markets in Crypto-Assets, or MiCA, framework. The move follows the inclusion earlier this year of its European banking entity, BNY Mellon SA/NV, in the European Securities and Markets Authority’s MiCA register. That registration allows the bank to provide crypto-asset custody, administration, and transfer services to qualified clients in the EU. BNY said the rollout comes as institutional demand moves beyond simply holding crypto assets. According to the bank, banks and broker-dealers are widening their digital asset and stablecoin offerings, while asset managers and corporate treasury teams are increasingly examining tokenized securities, digital payments, and blockchain-based settlement. As of the end of June, BNY had $62.6 trillion in assets under custody or administration and $2.2 trillion in assets under management. The bank first launched its digital asset custody platform in 2022.
Bank of New York Mellon (BNY) said it is extending its digital asset custody platform to selected institutional clients in the European Union under the bloc’s Markets in Crypto-Assets framework, or MiCA.
The expansion comes after its European banking entity, BNY Mellon SA/NV, was added earlier this year to the European Securities and Markets Authority (ESMA) MiCA register. That registration permits the bank to provide crypto-asset custody, administration, and transfer services to qualified clients in the EU.
BNY is one of the world’s largest custody banks. As of the end of June, it held $62.6 trillion in assets under custody or administration and $2.2 trillion in assets under management.
The bank first launched its digital asset custody platform in 2022. Its latest move in Europe places that system within a clearer regulatory framework.
BNY said institutional demand is moving beyond basic crypto holding. Banks and broker-dealers are expanding digital asset and stablecoin services, while asset managers and corporate treasury departments are increasingly exploring tokenized securities, digital payments, and blockchain-based settlement. Custody underpins all of those products, the bank said.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
