The cryptocurrency market, according to Michael Demissie, the head of digital assets at Bank of New York Mellon, is “here to stay,” as institutional investors have shown a strong interest in crypto. According to a BNY Mellon survey conducted in October 2022, 91% of custodian bank clients are interested in investing in blockchain-based tokenized products, 86% of institutional players are adopting a “buy and hold” strategy, and 88% of those surveyed have long-term plans to invest in the digital asset sector.
Caroline Butler was named CEO of Digital Assets at BNY Mellon on February 2 to help drive the next wave of adoption for the bank’s clients. Butler was previously the CEO of custody services and will now lead the company.
US banking giant BNY Mellon says digital assets are ‘here to stay’
