An executive from the Bank of New York Mellon (BNY Mellon) has a broadly positive view of cryptocurrencies, seeing their growth in the face of market turbulence as proof of their viability. 

Michael Demissie, the head of digital assets at the world’s largest custodial bank by assets and the oldest lender in the U.S., asserted on Feb 8 that digital assets are “here to stay” as institutional players are increasingly interested in crypto.

Institutional investors are still betting on crypto even after being rekt in 2022 and the angst surrounding escalating regulatory scrutiny.

Speaking during a conference run by Afore Consulting on Wednesday, BNY Mellon digital assets head Michael Demissie noted that interest in crypto by deep-pocketed investors is still strong.

“What we see is clients are absolutely interested in digital assets, broadly,” he opined, per a Reuters report.

(By Brenda Ngari)