- BNY Mellon is planning to hold some assets of bitcoin and other cryptocurrencies for their client.
- BNY has made a good profit over the past year.
- Fireblocks is looking forward to expanding its operations worldwide through a Series B funding round.
According to some sources, it is being said that BNY Mellon and Fireblocks have been working together for a long time.
BNY Mellon is working with Fireblocks on their new Bitcoin custody service. BNY is planning to hold some assets of cryptocurrencies, including Bitcoin, on their client’s behalf. With this, BNY is planning to enter the digital market. However, BNY and Fireblocks haven’t spoken about their partnership till now.
Plans and profits of BNY Mellon and Fireblocks Partnership
BNY Mellon announced that they are planning to hold, issue and transfer Bitcoins and other cryptos by the end of 2021. They want to enter the crypto world for their institutional clients. Mike Demissie, BNY’s head of advanced solutions, talked about other services that the bank is planning to offer before 2021. Mike also shared the bank’s plans regarding cryptocurrencies. They also announced that they would be partnering with other firms but didn’t specify things.
BNY Mellon has recorded profits over the past year. It made a profit of 2% in the last five days and nearly 6% over last month. It’s a year to date record was over 3%.
Both BNY and Fireblocks have been quiet over their partnership, but the resources say that they have been working together for a long time.
Fireblocks completing its financial round
Some sources also shared that Fireblocks is near to concluding its funding round. After completing this financial round, it would be added to the $30 million raise from the Series B funding round of November.
Fireblocks also announced in a press conference that the series B funding round would help their firm in expanding its operations worldwide. They also said that it would help the digital asset firm in meeting the demands of the market. Fireblocks have been getting good achievements. It has been working with several famous firms.