The growing adoption of cryptocurrency continues to be high, as several firms ranging from financial, technology to even sports have continued to embrace the investment ground gaining mass attention at the moment. Notably, many financial and investment technology firms have also been trying to tap into the market, offering several value-added services and products in a bid to maximize their business profits and further gain exposure into the space.
However, the good news is that the partnership will benefit all parties involved, i.e., the traders, the firms, and the cryptocurrency space itself. The latest of such partnership and innovation is that of The Bank of New York Mellion, which are now set to offer Cryptocurrency services for their customers.
BNY Mellion crypto services will initially cater to institutional customers
The BNY Mellion is the oldest bank in the United States of America. It is now set to utilize its long years of business and investment experience to assist its customers by providing Bitcoin services. According to Wall Street Journal, the bank plans to offer crypto holding services to its customers in the press release towards the tail end of the year. The bank’s cryptocurrency services will mostly cater to its large number of institutional clients.
In their official release, the bank had also discussed that the crypto offerings in its pipeline would be well attended to with much interest as other assets like mutual funds, stocks, and bonds. The growth of the cryptocurrency space has been the major source of attraction for BNY Mellion, who have been impressed by how much individuals and institutional players have flocked to cryptocurrency in a bid to make the most of a COVID-19 economically ravaged year. As expected, BNY Mellion will first cater to Bitcoin services before another altcoin token follows suit.
Bitcoin continues to attract all
Bitcoin continues to be the toast of all, amidst the recent success of the cryptocurrency. The cryptocurrency continues to be the leading player in the blockchain space and has been attracting investors of all kinds recently. While BNY Mellion has stated that the Blockchain space’s overall success had been the drive to its new service offerings, many believed that they had the success of Bitcoin in mind while making such declarations.
Bitcoin remains popular amongst all the cryptocurrency, as several influential figures continue to market the digital assets. The recent increase in the cryptocurrency’s institutional investment has also been a driving factor behind its massive price increase, a trend that will not stop, at least for now. There are also expectations in the cryptocurrency space for many other related financial service firms to start offering cryptocurrency services since the space has now one of the most sought-after investment grounds for value.