BNY Mellon Joins Launch of Crypto Platform for Banks

The holding plans to implement cryptocurrency infrastructure as digital currencies become regulated assets.

The financial holding BNY Mellon has joined an alliance of six banks that are planning to launch Pure Digital, a digital asset trading platform, writes the Financial Times .

According to the publication, BNY Mellon will implement the infrastructure for working with cryptocurrencies as the regulatory framework emerges.

State Street, one of the oldest US banks, announced the launch of the Pure Digital crypto platform in April  .

The platform should become a high performance, physical asset delivery trading system. Institutional investors working with the crypto platform will be able to use bilateral credit lines.

Last week, a number of Bank of America clients gained access to Bitcoin futures trading.

In May, the bank conducted a survey in which it found out that bitcoin is in demand among asset managers.

The survey involved 216 top managers with total assets under management in the amount of $ 625 billion.