Financial holding Bank of New York Mellon (BNY Mellon) with $ 2.2 trillion in assets under management announced the creation of the Digital Innovation Hub. The structure will allow clients to store, transfer and issue digital assets, writes the Business Post.
Related: Central Bank of Ireland opposed Bitcoin
The division will become the custodian for cryptocurrencies, CBDC, and NFT. The Bank of Ireland will regulate its activities.
Earlier, the country's monetary regulator criticized cryptocurrencies. The head of the financial control department, Derville Rowland, said that investors are at risk of losing all their investments due to the "speculative nature" of digital assets.