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BNY Mellon ups crypto gameINTL

BNY Mellon ups crypto game

Thursday brought big news to everyone that’s been swearing by cryptocurrencies since the dawn of bitcoin.

The Bank of New York Mellon Corp has invested in the crypto startup Fireblocks, which focuses on the secure storage and transfer of all your favorite digital currencies. BNY Mellon is reportedly integrating Fireblocks’ technology into a new venture (a digital asset unit) that will allow it to hold, transfer and issue cryptocurrencies on behalf of investors.

The New York City-based startup racked in a load of cash in their latest funding round (about $133m in total), though we don’t know exactly how much of it was put forward by BYN Mellon.

why it matters
This is just the latest development in the “Let’s Make Crypto Mainstream” saga (this is not a real book, don’t look it up). Digital assets are finally being embraced by Wall Street players and big financial institutions, so stay tuned to find out which celebrity/investor/bank will try to capitalize on cryptocurrencies’ popularity next.