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The oldest bank in America, BNY Mellon, will hold, transfer, and buy bitcoin for their asset management clients!


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Bank of New York Mellon, the nation's oldest bank, is making the leap into the market for cryptocurrencies. The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers' other, more traditional holdings.

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I think by "issue" they mean a client can withdraw the bitcoin from the banks custody service to their own wallet. Without selling for dollars and being sent dollars.

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BNY Mellon is entering the Bitcoin arena with the creation of a “Digital Assets Unit.” The New York-based bank will issue, hold and transfer bitcoin on behalf of its asset-management clients. The bank is a custodian of over $41 trillion in assets and has $2 trillion under management.

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