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Bitcoin to Come to America’s Oldest Bank, BNY Mellon (The custody bank plans to eventually treat digital currencies like any other asset)
Wall Street Journal ^ | 11 February 2021 | Justin Baer

Posted on 02/11/2021 8:10:10 AM PST by amorphous

Bank of New York Mellon Corp. , the nation’s oldest bank, is making the leap into the market for cryptocurrencies.

The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.

“Digital assets are becoming part of the mainstream,” said Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bitcoin; crytocurrency; mellon
This is Big, Y'all...

Banks remove a large disability crypto has for average peoples: Complexity.

1 posted on 02/11/2021 8:10:10 AM PST by amorphous
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To: amorphous

How much money do I have in the bank this week?

“On May 22, 2010, programmer Laszlo Hanyecz completed the first documented commercial Bitcoin purchase, paying 10,000 for two Papa John’s pizzas. Valued at $41 at the time, current market pricing today gives the purchase a $92.5 million price tag.”


2 posted on 02/11/2021 8:13:24 AM PST by a fool in paradise (Call on Joe Biden to follow Donald Trump's example and donate his annual salary to charity. )
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To: a fool in paradise

Stability hinges on the number of those who own a thing.


3 posted on 02/11/2021 8:17:45 AM PST by amorphous
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To: amorphous

And when ALL the Electricity goes out permanently in the near future, what happens with the electronic money??


4 posted on 02/11/2021 8:28:37 AM PST by eyeamok
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To: amorphous

Elon Musk is now going to take bitcoin for his Teslas.


5 posted on 02/11/2021 8:33:26 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: eyeamok
Poof!

But so does civilization.

6 posted on 02/11/2021 8:33:55 AM PST by amorphous
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To: Georgia Girl 2

My wife and I bought nice electric bikes with BTC a few years ago. If we’d waited, we could have had a new Tesla for the same amount of BTC. Who knew? Lol


7 posted on 02/11/2021 8:39:06 AM PST by amorphous
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To: eyeamok

Jerky, ammo, whiskey for barter.


8 posted on 02/11/2021 8:43:44 AM PST by rktman (Destroy America from within? Check! WTH? Enlisted USN 1967 to end up with this?)
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To: eyeamok

And when ALL the Electricity goes out permanently in the near future, what happens with the electronic money??

—————————————————————

It’ll probably take a crap just like paper money would if all the electricity were to go out permanently.


9 posted on 02/11/2021 9:01:04 AM PST by Responsibility2nd (Trump is a deposed Pres. in exile. America is truly a banana republic. Our govt. has been overthrown)
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