The Bank of New York Mellon Corp. affirmed its belief in digital assets in the wake of the cryptocurrency fallout related to the bankruptcy of multiple cryptocurrency firms.

"We really believe in digital assets," Roman Regelman, senior executive vice president and CEO of securities services and digital, said at an industry conference Dec. 7.

While the company is confident in its digital asset ventures, it recognizes the value of trust in the sector and that digital assets and other technology require regulatory frameworks. As such, it is working closely with regulators, Regelman said.

"The digital assets need to be done in the same way we look at all other financial services instruments [and] needs to be done by regulated institutions," Regelman said. "That's why our mission of trust is critical here, and we're putting innovation on top of that."

The executive said the company is "quite bullish in both" the asset class and underlying technology.

"We really believe that the institutional adoption of digitization is here," Regelman added.