America’s oldest bank to track customers’ Bitcoin transactions with Chainalysis integration

BNY Mellon, the world’s largest custodian bank, is set to integrate blockchain data platform, Chainalysis to help monitor and analyze cryptocurrency products. The move is a part of the institution’s strategy to build cryptocurrency services for its clients.

This will help its clients to assess the cryptocurrency trends and “granular activity in support of its compliance and due diligence practices.” In short, BNY Mellon wishes to track the assets of the custody services that it provides its clients with.