BNY Mellon, the world’s oldest bank at 240 years old, has added crypto staking capabilities to its digital asset custody platform. This feature allows institutional clients to earn rewards on their Bitcoin and Ether holdings directly through their existing custodial relationship. The bank’s digital asset custody platform launched on October 11, 2022, and BNY Mellon has also served as the primary custodian for Ripple’s RLUSD stablecoin reserves as well as BlackRock’s BUIDL tokenized fund. This expansion positions BNY Mellon in direct competition with crypto-native custodians like Coinbase, leveraging its integration with traditional financial services and regulatory compliance to attract regulated entities.
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