According to 2022 research of the custodial bank’s clients, Michael Demissie, head of advanced solutions at Bank of New York Mellon (NYSE:BK), stated on Wednesday that digital assets were “here to stay.”
At the 7th Annual FinTech and Regulation Conference hosted by Afore Consulting, BNY Mellon’s Demissie remarked on a panel discussing cryptocurrencies, “What we find is clients are extremely interested in digital assets, generally.”
Demissie highlighted a study of BNY Mellon clients from October 2022, which revealed that more than 90% of them anticipated making investments in tokenized assets soon.
Related:Â BNY Mellon lets some of its clients hold and move BTC and ETH.Â
Markets for cryptocurrencies fell precipitously in 2022 as a result of investors’ growing caution, brought on by high-profile bankruptcies at crypto businesses and increasing interest rates.
Demissie added that stricter regulation was necessary.
Demissie emphasised the need for responsible navigation in this area.
“Clear regulations and guidelines for the road are a must.” “We need trustworthy individuals who can deliver services that live up to investor confidence.”
