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Filed: Crypto, The Stream | Tags: Bitcoin, cryptocurrency, custody, NYDig, US BankPosted by Colin Lambert. Last updated: October 7, 2021
Continuing the momentum of banks adding cryptocurrencies to their custody offerings, US Bank announced that it has launched cryptocurrency custody services for its global fund service clients.
The services are intended for institutional investment managers with private funds in the United States or the Cayman Islands who want a custody solution for Bitcoin with additional support for upcoming coins. NYDig is the first crypto sub-custodian announced in the banking provider network.
Investor interest in cryptocurrency and our clients’ demand for fund services have grown significantly over the past few years, said Gunjan Kedia, vice president of wealth management and investment services at USBank. Our fund and institutional custody clients have ramped up their cryptocurrency offering plans and, in response, we’ve made it a priority to accelerate our ability to offer custody services.
The environment is complex, with an evolving regulatory landscape and emerging technology platforms, he adds. Integrity and expertise are essential to protect our clients’ most valuable assets.
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