You’ve got the power? Legacy banks aim high with new crypto offerings
Reports that legacy banks like BNY Mellon (NYSE:) and Deutsche Bank (DE:) are becoming active in the cryptocurrency space, including through custody services, should come as welcome news for crypto investors.
Lost or misplaced private keys, after all, are a bane of the crypto world — just recall the Welshman who lost 7,500 (BTC), worth about $400 million today, when he landfilled his PC’s hard drive, forgetting it was the sole repository of his private key. Meanwhile, traditional banks are society’s safekeepers par excellence, so maybe they can improve the crypto user experience with regard to private keys at the very least.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.