BNY Mellon will be supporting the Bitcoin trading platform Pure Digital and will join State Street and other banks in the crypto breakout as we take a closer look at today’s BTC news.

New York Bank Mellon Corporation has announced it will join State Street Corporation and four other banks to support Pure Digital, a London-based cryptocurrency trading platform. According to reports from the Financial Times, the move shows that banks are now seeing increased customer interest in cryptocurrencies, CEO Lauren Kiley said:

“We’ve spoken to all of the leading banks, but we believe the custodians were among the first to see the need, so they’re more advanced now.”

In addition to State Street and BNY Mellon, the first announced support for the platform three months ago as the crypto market is supported by four more, but no names. In addition to State Street, BNY Mellon will support Pure Digital, the bank also plans to trade on the platform as well as provide other services such as technology. Jason Vitale, Global Head of Forex at BNY Mellon said:

“Digital assets will only participate more in global markets in the years to come, and this partnership fits BNY Mellon’s broader strategy of developing digital asset capabilities for customers across the entire commercial lifecycle.”

Campbell Adams, the co-founder of Pure Digital, announced that the platform plans to launch a trading service in a week, starting with Bitcoin. BNY Mellon announced that it would add BTC support on behalf of wealth management clients, and two months later the bank announced a new crypto entity in Dublin that will allow clients to transfer, hold and dispense digital assets.

As recently reported, despite the bearish sentiment, BNY Mellon is establishing a Bitcoin custodian in Ireland in hopes of expanding its crypto activities in the country. Central bank enforcer Derville Rowland said the growing popularity of crypto assets like BTC is a major concern in an interview today. Rowland spoke in an interview after BNY Mellon announced a new cryptocurrency unit in Dublin that will allow customers to hold, transfer and spend digital assets. The new Digital Innovation Hub will be regulated by the central bank, which will act as custodian for digital assets such as NFT and Bitcoin, as well as central bank digital currencies.

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