Michael Demissie, head of digital assets at Bank of New York Mellon (BNY Mellon), insists that the collapse of the cryptocurrency market in 2022 will not be easy to waver in the department's enthusiasm for digital assets.

At a conference held by Afort Consulting, Demissie said on February 8th that the digital asset sector would "stay here" because of investors' strong interest in data encryption.

"what we can see is that users are definitely interested in digital assets," he said, according to a Feb. 8 report by the Associated Press. "

Demissie cited a survey conducted by the Bank of New York Mellon in October that showed that 91 per cent of escrow bank customers were interested in symbolic goods for projects to invest in distributed books, which fuelled her idea.

The survey also found that 86% of institutional participants have adopted a "buy and hold" strategy, which may indicate that they regard the cryptocurrency market as a long-term personal behavior.

Among the people surveyed by the group, 88% also indicated that the severe downturn in cryptocurrency sales in 2022 had not changed their plans for long-term investment in the digital asset industry.

But Demissie does show that Washington must do more to make it easier for field participants to move forward under clearer and tighter supervision.

"people definitely need clear supervision and standards. We should be responsible participants who can provide reliable services and live up to the trust of investors. "

"the key is that we should control the field in a responsible way," he added.

On February 2nd Bank of New York Mellon announced the appointment of Caroline Barrett as CEO of the company's digital assets, which could help boost the next wave of choices for bank customers. She used to be a CEO for hosting services.

The appointment coincides with the launch of Bank of New York Mellon's own digital hosting platform in October, which provides a good opportunity for designated organizational users to invest in BTC and ETH.

Earlier, in February 2022, Bank of New York Mellon announced a strategic partnership with Chainanalysis, a chain of index value services, to help track and analyze cryptocurrency commodities.

Bank of New York Mellon is not the only big bank to take action in digital assets recently.

It is reported that Goldman Sachs has expressed interest in recycling cryptocurrency companies, which were previously affected by the devastating collapse of FTX in November last year.

Although Jay Dimon, CEO of Morgan Bank, is not a Bitcoin fan, his company has recently been moving into distributed ledger services. In November last year, the company successfully implemented its first cross-border deal so far using decentralized finance on the public blockchain.