Snipets of Good News for DC's....20 Oct 2022 14:27
Investing behemoths BlackRock and BNY Mellon, which boast a combined $10 trillion in managed assets, have both expanded their crypto offerings.
BNY Mellon, the world’s largest financial custodian and America’s oldest bank, added BTC and ETH to its custodial capabilities, which include managing clients’ private keys and providing “the same bookkeeping services on those digital currencies that it offers to fund managers for … stocks, bonds, commodities, and other assets,” per The Wall Street Journal.
In the firm’s Q3 earnings call, BNY CEO Robin Vince noted that 75% of clients are either investing, or actively considering investing, in digital assets: “What we've heard from our clients is they want institutional grade solutions in the space.”
BlackRock, the world’s largest asset manager, recently introduced a metaverse ETF that includes companies investing in and building the emerging, but beleaguered, virtual industry. This follows August initiatives that included a partnership with Coinbase and the launch of a “spot bitcoin private trust,” which lets institutional clients indirectly invest in BTC’s performance (not to be confused with a spot BTC ETF, which the SEC has yet to approve in the U.S.)
Mastercard is launching a program to help financial institutions offer crypto trading.
On Monday, the payments giant announced Crypto Source, a pilot program that will give banks access to “buy, hold, and sell services for select crypto assets, augmented with … advisory services.”
Per a CNBC report, Mastercard will act as a “bridge” between crypto trading platform Paxos and banks, offering regulatory compliance and security services.
Mastercard has been steadily adding crypto capabilities since 2021 with efforts including a startup accelerator and credit card integrations with web3 platforms including Coinbase NFT.
Google announced a partnership with Coinbase, which includes several new crypto initiatives and investments.
Google Cloud customers will be able to pay for cloud services with select cryptocurrencies including BTC and ETH.
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