Six banks, including BNY Mellon, form a consortium to support London's new crypto trading platform

The new Pure Digital crypto trading platform has strong players behind it, six banks, including BNY Mellon and State Street.

Six banks, including BNY Mellon, form a consortium to support London's new crypto trading platform

The infiltration of banks into the crypto industry is gaining momentum, as evidenced by the new consortium of up to six banks, which was created to support the new London crypto trading platform Pure Digital.

In this case, this is really important news, because among these banks are also two of the world's largest custody banks, namely BNY Mellon and State Street.

We have spoken to all the top-tier banks but we think custody banks were some of the first to see demand, so they are now more advanced,” said Lauren Kiley, Pure Digital chief executive officer.

Global Head of Foreign Exchange at Bank of New York Mellon, Jason Vitale, commented on the situation by saying that digital assets will become part of global markets in the coming years, and therefore BNY Mellon is implementing a broader strategy in this direction.

The Bank of New York Mellon also recently announced that it has entered into an agreement with Grayscale Investments to become the official provider of their largest bitcoin fund.

Historically, this should be the first cryptocurrency exchange in which banks are directly involved, which serve as a support and also as a driving force.

In addition to BNY Mellon, another important name is known, State Street, which is ranked 15th on the list of largest banks in the United States by assets.

Pure Digital co-founder, well-known currency veteran Campbell Adam, said we wouldn't have to wait long to launch the crypto platform, as the first Bitcoin market trade would take place in a week.

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