Financial Service Giant BNY Mellon Appoints New Head of Blockchain

Published at: May 14, 2019

New York-based global investments company, Bank of New York Mellon (BNY Mellon), has named Subhankar Sinha as the company’s Head of Blockchain, according to a May 13 press release.

Sinha’s role in the corporation will be to work on creating and furthering partnerships with startups, accelerators and other businesses in the blockchain field.

Sinha previously worked as a director for the London-based international accounting firm PwC, co-founding and co-leading the firm’s American blockchain consulting practice. After leaving PwC, he created a firm to advise startups on business models.

BNY Mellon put out a job offer (now defunct) for the role of “Blockchain Senior Principal” on online business networking platform LinkedIn four months ago, noting that they were seeking a “subject matter expert for the Firm on blockchain/DLT technologies.”

BNY Mellon — a bank with $34.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management — has been testing blockchain technology since 2015, even releasing so-dubbed BK Coins as tokens for internal use as corporate incentives, according to the WSJ.

Since then, BNY Mellon has used blockchain tech to keep backup records of transactions and co-founded a project (Utility Settlement Coin or USC) to issue currencies on the blockchain. More recently the company has partnered with the Intercontinental Exchange to provide private key storage for crypto assets.

Tags
Pwc
Related Posts
R3 Doubles London Office Size in Anticipation of Growing Branch
New York-based enterprise software firm R3, known for its enterprise blockchain platform Corda, has doubled the size of its London Wall office. Business intelligence firm Mondo Visione reported on the company’s new hiring goals on Aug. 1. According to the report, R3 has increased the size of its London branch as partial accommodation for the company’s intended 85 global hires by the end of 2019. Out of the 85, over half are intended to be installed in the company’s London office. R3 is reportedly primarily recruiting software engineers, but will also onboard some commercial and client-facing professionals. Additionally, the report …
Blockchain / Aug. 2, 2019
Global Demand for Blockchain Engineers Up 517 Percent in a Year, Says Hired
The global demand for blockchain engineers is up by 517 percent year-over-year, according to a report released by recruitment company Hired on Feb. 28. The document also notes that the second-fastest growing software engineering role is security engineer, with 132 percent growth, and third is embedded engineer, up 76 percent. The blockchain engineer role also consistently stayed among the top-three most-paid software engineering jobs in the various cities covered in the report. Specifically, blockchain engineering is the second most-paid software engineering specialization in New York and London, the third in the San Francisco Bay area and Toronto, and the first …
Blockchain / Feb. 28, 2019
Crypto Fundraising to Aid Canary Wharf and Isle of Dogs
Bank Account Based Blockchain (BABB) and CryptoAM.io have launched a fundraising initiative on March 31 to help vulnerable and elderly people living in Canary Wharf, Poplar and the Isle of Dogs in London, United Kingdom. According to the announcement, BABB’s native cryptocurrency utility token, BAX, is the parent of the project, where transactions will be made quickly, regardless of whether they are low amounts, in addition to being an expedited and free way for the donor. Many vulnerable people reside in the Isle of Dogs CryptoAM’s Crypto Insider, James Bowater, realized that many older adults are outside the country’s health …
Blockchain / April 2, 2020
Tether Hits Back at Claims Its Reserves Were Used to Cover $850 Million Loss at Bitfinex
Stablecoin operator Tether has responded to allegations that its funds were used to cover an $850 million loss at the crypto exchange Bitfinex — using a statement on April 26 to claim court filings by the New York Attorney General’s office are “riddled with false assertions.” The state’s top prosecutor, Letitia James, has accused Tether, Bitfinex and associated entities of violating New York law through activities that may have defrauded crypto investors in the state. According to the court filings, the exchange took hundreds of millions of dollars from Tether’s reserves to conceal losses from investors and hide its inability …
Blockchain / April 26, 2019
London emerges as world’s most crypto-ready city for business — Research
Along with pro-crypto regulations, mainstream adoption of cryptocurrencies requires a supporting infrastructure that can allow the general public access and exposure to the ecosystem. When considering eight key indicators around taxes, ATMs, jobs and events in crypto, London stands at the top as the most crypto-ready city in the world for businesses and start-ups. UK Prime Minister Rishi Sunak’s vision to “ensure the UK financial services industry is always at the forefront of technology and innovation” is on the right path, reveals research conducted by Recap. An examination of eight key data points determined London to sport the highest crypto-readiness …
Adoption / Feb. 5, 2023