2 weeks ago
U.S. Bank said it restarted cryptocurrency custody offerings for organization concern managers, broadening the work to see bitcoin (BTC) exchange-traded funds (ETFs).
The program, archetypal rolled retired successful 2021 and enactment connected clasp successful 2022, is disposable connected an aboriginal entree ground done U.S. Bank’s Global Fund Services division, the slope said Wednesday.
Custody operations volition beryllium supported by NYDIG, which is acting arsenic the bank’s sub-custodian for bitcoin.
Stephen Philipson, vice seat of U.S. Bank Wealth, Corporate, Commercial and Institutional Banking, said the determination was prompted by renewed regulatory clarity.
“We’re arrogant that we were 1 of the archetypal banks to connection cryptocurrency custody for money and organization custody clients backmost successful 2021, and we’re excited to resume the work this year,” helium said successful the release.
NYDIG CEO Tejas Shah framed the concern arsenic a mode to bring institutional-grade safeguards to bitcoin access. “Together, we tin span the spread betwixt accepted concern and the modern economy,” helium said.
U.S. Bank had implicit $11.7 trillion successful assets nether custody and medication arsenic of June 30. Its services span ETFs, money custody, money administration, firm spot and wealthiness management.
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