BNY Mellon Sets Up Crypto Unit in Ireland as Central Bank Says Bitcoin Is ‘of Great Concern’ – Finance Bitcoin News – Bitcoin News

BNY Mellon Sets Up Crypto Unit in Ireland as Central Bank Says Bitcoin Is ‘of Great Concern’ – Finance Bitcoin News – Bitcoin News


U.S. banking corporation BNY Mellon is gearing up to offer crypto custody services out of Dublin where it has just established a digital hub. The news coincided with a stark warning issued by a top central bank official in Ireland who said people should only buy bitcoin if they’re prepared to lose money.

BNY Mellon to Provide Custody for Digital Assets Through Dublin-based Unit

Following a decision to enter the cryptocurrency space announced in February, the Bank of New York Mellon has now created a “Digital Innovation Hub” in Dublin. The unit will act as a custodian for crypto assets, the Business Post reported, noting that with the move, “the banking giant, is betting on the future of bitcoin and other cryptocurrencies.”

The hub will allow clients to hold, transfer and issue digital assets, the
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