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Bank of New York MellonCorp., the nations oldest bank, is making the leap into the market for bitcoin, a sign of broader acceptance of the once-fringe digital currency.

The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. Custodians like BNY Mellon keep track of money managers assetswhether they are physical things like real estate or cash housed in an account with another bankstoring some themselves while attesting to the existence of others.

BNY Mellon said it would allow digital assets to pass through the same plumbing used by managers other, more traditional holdingsfrom Treasurys to technology stocksusing a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.

Digital assets are becoming part of the mainstream, said Roman Regelman, chief executive of BNY Mellons asset-servicing and digital businesses.

Until now, those money managers have had to use separate custodians for their cryptocurrency holdings, Mr. Regelman said

Link:
Bitcoin to Come to Americas Oldest Bank, BNY Mellon - The Wall Street Journal