One of the oldest banks in America has offered crypto investors storage of their digital assets

One of the oldest banks in America, BNY Mellon, has stepped up its activities in the cryptocurrency industry. From now on, digital asset owners will be able to store their BTC and ETH at BNY Mellon, thanks to the bank’s new custodial cryptocurrency service.

According to BNY Mellon representatives, the service has been available since the beginning of this week, but it is currently available to a limited number of clients. Investors can deposit only bitcoin and ethereum, as the bank has obtained a license from the New York State regulator to work exclusively with these digital assets. The bank will keep access keys to customers' cryptocurrencies and will also keep accounting records.

BNY Mellon has become the first major US banking institution to accept digital assets and has every chance of becoming popular among crypto investors. Large cryptocurrency holders have long been interested in custody services for crypto assets, but due to the complexity of regulation and the reluctance of traditional banks to introduce a new service, it has been impossible to do so.

SWIFT, the international banking system for the transfer of information and payments, is also not standing aside from the cryptocurrency industry. A week ago, SWIFT successfully tested national cryptocurrency exchanges (CBDCs), which will now facilitate trade between 200 countries. Using SWIFT, central banks will be able to directly connect their networks to other payment systems through a single gateway.