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Bank of New York Mellon Corp. is investing in a cryptocurrency startup, the latest move by a traditional Wall Street player to embrace digital assets.
The startup, Fireblocks, builds tools for the secure storage and transfer of bitcoin and other cryptocurrencies. BNY Mellon plans to use Fireblocks’s technology to underpin a new business that the bank unveiled last month, in which it plans to serve as a custodian for digital assets on behalf of institutional investors.
