BNY Mellon Expands Crypto Custody in the EU under MiCA Framework
- BNY Mellon has expanded its Digital Asset Custody platform to selected institutional clients in the European Union.
- The expansion follows BNY’s addition to the ESMA MiCA register, allowing regulated custody of crypto assets.
- BNY reported $62.6 trillion in assets under custody or administration as of June, with $2.2 trillion in assets under management.
- MiCA provides consistent regulatory rules across the EU, facilitating easier entry for established financial institutions into crypto markets.
BNY Mellon’s move into regulated crypto custody within the EU marks a significant step for traditional banks entering digital asset markets under a unified regulatory framework provided by MiCA. This development allows institutional clients to manage digital assets using familiar infrastructure and governance systems.
By integrating digital asset services into their existing network, BNY Mellon is bridging conventional and crypto custodial services, enhancing institutional adoption of digital assets within a regulated environment. (Source)
