Bank of New York Mellon Invests in Crypto Startup | The Wall Street Journal

Bank of New York Mellon Invests in Crypto Startup

The investment in Fireblocks comes as part of a larger funding round that the startup is set to announce Thursday.

Bank of New York Mellon Corp. is investing in a cryptocurrency startup, the latest move by a traditional Wall Street player to embrace digital assets. The startup, Fireblocks, builds tools for the secure storage and transfer of bitcoin and other cryptocurrencies. BNY Mellon plans to use Fireblocks's technology to underpin a new business that the bank unveiled last month, in which it plans to serve as a custodian for digital assets on behalf of institutional investors.

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