With or without the FinCEN scandal, Mellon can generate enormous amounts of cash.Read more
For example, BNY Mellon is exploring Crypto Custody for the banking of blockchain assets.
To explain, a Crypto Custody service safeguards crypto assets like altcoins, stablecoins, decentralized applications (DApps), smart assets, utility tokens, smart contracts, crypo securities, and blockhain equities. The hope is that wealthy people will want to keep their crypto safe and insured by putting it in a bank.
Beyond the potential repatriations windfall, there is something else really fascinating about Bank of New York Mellon (BNY) – it is a potential cryptocurrency play. Mellon has been actively researching and experimenting with blockchain and altcoins; while finance industry leaders have been badmouthing them.
BNY Mellon is listed as one of the participants in the Ethereum Enterprise Alliance (EEA).
To add icing to the cake, BNY Mellon is also participating in the Linux Foundation’s Hyperledger Project.
The great thing is that there are many companies poised for growth in 2017. Investors that do their research and trust their guts should make money in the market in 2017, so Happy New Year!!Read more
Bank of New York Mellon is not just a bank with offices in Manhattan it is a FinTech play. BNY Mellon is one of four major banks developing the Utility Settlement Coin or USC, with the technology companies Icap and Clearmatics, Crowdfund Insider reported.Read more
The PBOC is in a rush to develop a digital currency because of China’s experience with bitcoin. China is the world’s largest market for bitcoin because the cryptocurrency allows the country’s residents to easily bypass its’ rigid currency controls.
The central bankers apparently hope that issuing their own cryptocurrency will give them some control over the situation. Some control is better than no control which is what they have right now.Read more