• BNY Mellon CEO Robin Vince believes the digital assets sector is the future of finance.
• The company is investing resources to provide blockchain-based services and products to clients.
• Vince has called for increased regulation of the industry.
BNY Mellon, America’s oldest custodial bank, is taking a bullish stance on digital assets and positioning itself for the future of finance. CEO Robin Vince, who has been at the helm of the bank since January 2021, sees the digital assets sector as the future of finance, and his company is open to exploring the potential of Bitcoin (BTC) and other cryptocurrencies.
In October 2022, BNY Mellon launched its digital assets platform to bridge digital and traditional asset custody. The platform provides clients with a secure and compliant way to access the digital assets space. The platform has become a driving force in the race for adoption, and the bank has invested resources to provide blockchain-based services and products to clients.
Despite the significant push for crypto adoption, Vince believes that regulation of the industry should also take utmost priority. In December 2022, he published an opinion piece in the Financial Times calling for increased regulation of the crypto industry. He argued that regulation is needed to ensure the industry remains safe and secure. He also emphasized the importance of digital asset custody, stating that it is a key factor in enabling digital asset mainstream adoption.
Vince sees digital assets as the future, and he believes that investing in these assets is a long-term play. “We’re investing for a future that probably will come to be, but it may not. But if it does come to be, we have to be there…We do think it’s important for us to participate in the broader digital asset space,” he said.
BNY Mellon’s bullish stance on digital assets is a testament to the bank’s belief in the potential of the sector. By investing in the digital asset space and calling for increased regulation, the bank is positioning itself to be at the forefront of the industry’s growth. With its commitment to providing secure and compliant services and products, BNY Mellon is setting itself up to be a leader in the digital asset space.