BNY Mellon partners with Chainalysis to track users

Bank of New York Mellon, the world's largest custodian bank, has partnered with blockchain software firm Chainalysis to track the crypto transactions of its users.

Bank of New York Mellon has announced a partnership with blockchain-data platform Chainalysis to assist in tracking and analyzing cryptocurrency products. BNY Mellon is the world's largest custodian bank, currently managing 46.7 trillion in assets.

ChainLysis is a blockchain-data analysis platform that provides services to traditional financial institutions, allowing large firms to easily manage the legal risks associated with cryptocurrency. As part of the partnership, BNY will use the channelisalysis software to track, record and use the data surrounding the crypto assets.