You’ve got the power? Legacy banks aim high with new crypto offerings
Cointelegraph
Published Feb 19, 2021 12:05PM ET
Updated Feb 21, 2021 02:20PM ET
Reports that legacy banks like BNY Mellon (NYSE:BK) and Deutsche Bank (DE:DBKGn) are becoming active in the cryptocurrency space, including through custody services, should come as welcome news for crypto investors.
Lost or misplaced private keys, after all, are a bane of the crypto world — just recall the Welshman who lost 7,500 Bitcoin (BTC), worth about $400 million today, when he landfilled his PC’s hard drive, forgetting it was the sole repository of his private key. Meanwhile, traditional banks are society’s safekeepers par excellence, so maybe they can improve the crypto user experience with regard to private keys at the very least.
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Written By: Cointelegraph
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