Analysis Crypto by Thebittimes.Com

The Union Bank of the Philippines, Inc., more commonly known as Unionbank, announced that the financial institution launched bitcoin and ethereum custody and trading services. The ninth largest bank in the country by assets, Unionbank, will leverage Metaco’s platform Harmonize to pilot the crypto services for clients. Unionbank to Provide Bitcoin and Ethereum Custody and Trading Services via Metaco On Nov. 2, 2022, the Philippines-based financial institution founded in 1981, Unionbank, revealed it is now offering bitcoin (BTC) and ethereum (ETH) services for customers. According to the announcement published on Wednesday, Unionbank is one of a number of select financial institutions approved by Bangko Sentral ng Pilipinas (BSP) to operate as a virtual asset service provider (VASP). Unionbank has started the pilot with bitcoin and ethereum custody and trading services. In 2019, Unionbank launched a stablecoin pegged to the value of the Philippine peso. At the end of April 2022...

America’s oldest bank, the Bank of New York Mellon Corporation, commonly known as BNY Mellon, has announced the financial institution can now custody cryptocurrencies. A report published by the Wall Street Journal on Tuesday, says BNY Mellon was approved by the New York State Department of Financial Services (DFS), and the bank said it was the first of eight financial heavyweights to start crypto asset custody services. BNY Mellon to Start Custody Services for Bitcoin and Ethereum on Behalf of Its Customers Last fall, New York’s financial regulator DFS gave BNY Mellon (NYSE: BK) approval to custody cryptocurrencies and a report published by the Wall Street Journal (WSJ) says the bank is ready to begin. BNY Mellon will store a crypto asset owner’s private keys, according to the report, in a similar fashion to the way it manages bonds, stocks, and other types of assets on behalf of its customers. BNY Mellon is America’s oldest bank founded in 1784 by Alexa...