BNY Mellon is working with Fireblocks on the banking giant's plans to hold bitcoin and other crypto assets on behalf ofcustomers, according to three people familiar with the subject.
The bank said earlier this month he was working with outside partners on the crypto custody game but did not identify them.
As bitcoin hits Wall Street, large institutions are looking for ways to accelerate their offerings, creating a bit of a gold rush for crypto-native service providers.
Banks in Europe announced partnerships with specialists in the conservation of cryptography such as Metaco in Switzerland. BNY Mellon takes a similar approach when working with Fireblocks, a multi-party compute store.
It should be noted that BNY Mellon also has atarget partnership with Bakkt , the crypto trading platform owned by Intercontinental Exchange (ICE).
Fireblocks and BNY Mellon declined to comment.
"Fireblocks has worked with BNY Mellon for a long time," one source said.
Two sources indicate that Fireblocks is also about to complete another round of funding. The company has closed a of $ 30 million Series B in November of last year. .
There is no doubt that Fireblocks well done, having recently announced that '' he provided custody services to Diem, the stablecoin consortium supported by Facebook formerly Libra.
BNY Mellon's digital asset custody platform will go live later this year. Find out more: BNY Mellon announces integrated Crypto Custody and Spies services