BNY Mellon launches Bitcoin and Ethereum custody for UAE institutions

BNY Mellon has confirmed the launch of institutional digital asset custody services for Bitcoin and Ethereum in the UAE. The move allows the world’s largest custodian bank to provide secure storage and management for the two dominant cryptocurrencies to institutional clients operating within the Emirates. Institutional Crypto Integration The bank, which oversees more than $47 trillion in assets under custody globally, will offer a unified platform where clients can manage both digital and traditional assets. By integrating Bitcoin and Ethereum into its existing financial infrastructure, BNY Mellon aims to provide the same level of security and regulatory compliance found in traditional markets to the digital asset sector. This expansion follows the bank's 2022 entry into the US crypto custody market, making it the first major US global systemic bank to offer such services. The UAE launch is a direct response to increasing demand from sovereign wealth funds, family offices, and institutional investors in the Middle East for regulated digital asset solutions. Regulatory Landscape in the UAE The UAE has established itself as a global hub for digital assets through the creation of…