Co-founder and outgoing CEO Jud Mackrill will remain with the firm as managing partner.

Advocates see lower-cost transactions and greater access to the financial system, but critics worry about privacy.

The government finally officially recognizes the emerging digital asset industry as important to maintaining global competitiveness in finance and technology.

The multicustodial oversight tool is intended to provide easier analysis of outside assets, as Pershing X seeks to bridge BNY Mellon's silos.

Under the plan, federal agencies from Treasury to the Commerce Department will have to research a number of topics, including the pros and cons of the government launching a U.S. digital currency.

The White House is laying a foundation for regulation of cryptocurrencies, examining the impact of digital assets on everything from national security to the environment.

Gridline founder and CEO expects to use the funding to double its head count over the next year, and projects reaching $2 billion of AUM in 2025.

The software developer plans to add head count in engineering, marketing and business development.