According to Michael Demissie, Head of Advanced Solutions at BNY Mellon, cryptocurrencies are firmly entrenched in the financial sector.
He has explained:
“We see that clients are absolutely interested in digital assets.”
Demissie has noted citing an October 2022 BNY Mellon study that more than 90% of the bank’s clients plan to invest in tokenized assets in the near future.
He has added:
“We need clear regulation, rules and responsible participants who can offer reliable services that justify the trust of investors.”
BNY Mellon CFO Emily Portney called in January last year on the US authorities to clarify the rules for regulating cryptocurrencies.