BNY Mellon says clients are increasingly interested in cryptocurrencies

Michael Demissi, head of the bank’s Advanced Solutions division, told a fintech and regulation conference hosted by Afore Consulting that cryptocurrencies have firmly entrenched themselves in the financial sector. Reuters reports.

“We see that clients are absolutely interested in digital assets,” he said.

Citing the October 2022 исследование by BNY Mellon, Demissi noted that more than 90% of the bank’s clients plan to invest in tokenised assets in the near future.

“We need clear regulation, rules, and responsible participants who can offer reliable services that justify investors’ trust,” he explained.

In January 2022, BNY Mellon chief financial officer Emily Portni urged U.S. authorities to clarify cryptocurrency regulation.

In October, the WSJ reported that the bank will allow clients to store digital assets alongside traditional financial instruments. According to the newspaper, BNY Mellon has received the regulator’s clearance in New York.