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BNY Mellon Doubles Down On Its Bitcoin Plans, Invests In Fireblocks

Source: Adobe/JHVEPhoto

The oldest bank in the US, New York Mellon Corp., joined other investors and made a strategic investment in digital asset storage, transfer, and issuing platform Fireblocks.

Today, Fireblocks said they raised USD 133 in Series C funding led by Coatue, Ribbit, and Stripes with strategic investment from BNY Mellon and SVB.

“Developing products to bridge digital and traditional assets is foundational to the future of custody,” Roman Regelman, CEO of Asset Servicing and Head of Digital at BNY Mellon, was quoted as saying in an announcement.

As reported, in February, the bank said it will hold, transfer and issue bitcoin (BTC) and other unspecified cryptoassets on behalf of its asset-management clients later this year.

Meanwhile, after raising USD 179m in total, Fireblocks said it “will continue to expand global resources to service the world’s biggest banks and fintechs and connect them to the entire crypto capital markets.”

The company claims that its platform allows banks and fintechs to deploy custody, tokenization, asset management, trading, lending, and payment solutions across public and private blockchain networks. Fireblocks said it serves over 200 financial institutions and has secured over USD 400 billion in digital assets.

“While we have no plans to become a bank, we believe our infrastructure will lend itself perfectly to power an entirely new era of financial services,” Michael Shaulov, CEO of Fireblocks, said.

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