• BNY Mellon can now provide bitcoin custody services.
  • The centuries-old institution won the approval of New York’s financial regulator to begin offering the service.
  • The move comes as institutions attempt to cater to a growing demand for cryptocurrency services.

Bank of New York Mellon (BNY Mellon), the world’s largest custodian bank, has launched bitcoin custody services, according to a report from the Wall Street Journal.

America’s oldest bank said it would begin receiving clients’ cryptocurrencies on Tuesday, becoming the first large U.S. bank to safeguard digital assets alongside traditional investments on the same platform, per the WSJ report.

By Antoni