In the world of finance, certain facts are almost too big to wrap your head around. Here’s one: BNY Mellon, has nearly $50 trillion in assets under custody. That’s right—$49.5 trillion, to be exact. To put that in perspective, the entire U.S. stock market—the collective value of every publicly traded company on American exchanges—totals about $46 trillion. That means BNY Mellon is holding more assets in custody than the value of the entire U.S. stock market combined.
Now, let that sink in for a moment.
It’s one thing for a legacy institution (legacy, as in, America's oldest bank) to manage that volume of assets. But when that same institution starts moving into the crypto custody space, you know we’re in the midst of a financial transformation. BNY Mellon is signaling loud and clear that digital assets are not only here to stay—they’re becoming part of the mainstream financial infrastructure.
For credit unions, this isn’t just interesting news. It’s a flashing neon sign that says: “If you aren’t offering crypto custody yet, you may already be too late.”
A Financial Shift That’s Too Big to Ignore
Let’s break it down. BNY Mellon’s move into crypto custody is monumental. When the world’s largest custodian bank—one that handles more assets than the entire U.S. stock market—decides that digital assets like Bitcoin and Ethereum are worth safeguarding, the message is clear: this is no longer a niche investment.
Crypto has evolved from a speculative asset class to something that serious financial institutions, pension funds, and institutional investors are taking very seriously. By entering the crypto custody space, BNY Mellon is validating what many early adopters have known for years: crypto assets are not just the future—they are now.
So, what does this mean for credit unions?
Crypto Custody: The Urgent Call for Credit Unions
If BNY Mellon, with its vast resources and centuries of experience, sees the value in offering crypto custody, then it’s time for credit unions to pay attention. While credit unions have historically been slower to adopt cutting-edge technologies, the financial world is moving at a pace where being reactive won’t be enough.
Offering crypto custody isn’t just about being trendy or forward-thinking—it’s about meeting member expectations and remaining competitive in a financial landscape that’s evolving by the day. The fact is, your members are likely already investing in crypto on their own. They’re using platforms like Coinbase or Robinhood, bypassing their trusted financial institutions to store and manage their digital assets.
If your credit union isn’t offering a way for members to safely store their crypto holdings, you're not only missing an opportunity, but you might be pushing your members to seek other financial solutions elsewhere. And once they’ve made that shift, it’s hard to bring them back.
But here’s where the real urgency comes in: It might already be too late (but it doesn't have to be).
DaLand CUSO: The Five-Year Head Start
While big banks and institutional investors are just entering the crypto custody game, the team at DaLand CUSO has been working on a solution for over five years. That’s right—our CIO had the foresight to start developing a crypto custody solution for credit unions long before major institutions like BNY Mellon recognized the need.
Why does this matter?
Because DaLand CUSO’s solution is tailor-made for credit unions. We understand the unique needs of member-owned financial institutions, and we know that credit unions need a solution that integrates seamlessly with their core systems and member-first philosophy.
Offering crypto custody is not just about adding a feature—it’s about transforming the way your credit union operates and serves its members in a digital-first world.
DaLand’s CODE Engine - Coin2Core allows credit unions to offer members a safe, compliant, and seamless way to store their digital assets, all while staying within the regulatory frameworks that credit unions are accustomed to navigating. And because we’ve been working on this for half a decade, our solution is tested, ready, and waiting.
The Competitive Edge for Credit Unions
Now, more than ever, credit unions need to think strategically about where the financial world is headed. The numbers speak for themselves. Crypto is no longer a speculative market—it’s becoming part of the mainstream financial ecosystem, with major players like BlackRock and Fidelity leading the charge.
For credit unions, this is a pivotal moment. The window of opportunity to offer crypto custody is rapidly closing. If you don’t act soon, you risk falling behind. As your members increasingly turn to digital assets, they will look for financial institutions that offer them the security and trust they need to manage those assets. If you can’t provide that service, someone else will.
And once your members start using another platform or institution for their crypto needs, your relevance to their financial lives diminishes. In a world where financial services are becoming more decentralized and competitive, credit unions must ensure they remain indispensable to their members.
Let's Go!
Institutional moves into crypto custody are signals that the financial world is changing fast. With BNY's assets under custody surpassing the value of the entire U.S. stock market, it’s clear that crypto is no longer a sideshow—it’s a main event.
Credit unions must move quickly to offer crypto custody services to their members. With DaLand CUSO’s five-year head start, your credit union has the opportunity to get ahead of the curve, meet your members' growing expectations, and remain competitive in this rapidly evolving financial landscape.
The question is no longer “Should we offer crypto custody?” It’s “Can we afford not to?”
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