US bank introduces custody services for cryptocurrencies in the middle of the strong demand of institutional customers-
US bank introduces custody services for cryptocurrencies in the middle of the strong demand of institutional customers-
The US bank has introduced its custody services for cryptocurrencies. "Investors' interest in cryptocurrency and the demand of our fund service customers have increased significantly in recent years," said the bank.
The US bank's crypto attitude services are now live
The US Bank announced on Tuesday that their custody services for cryptocurrencies are now available live and for their customers of Global Fund Services.
With almost 70,000 employees and a fortune of $ 559 billion,us Bancorp is the parent company of US Bank, the fifth largest bank in the country on June 30. The company based in Minneapolis serves millions of customers locally, national and globally. The US Bank Wealth Management and Investment Services had 30th
The announcement details:
The services are aimed at institutional investment managers with private funds in the USA or on the Cayman Islands who want a custody solution for Bitcoin - with additional coin support comes shortly.
"NYDIG, a leading technology and financial service company for Bitcoin, is the first crypto sub-consumption that was announced in the bank's provider network," she adds. The New York Digital Investment Group (Nydig) is the Bitcoin investment by Stone Ridge Asset Management.
Gunjan Kedia, deputy chairman of US Bank Wealth Management and Investment Services, commented:
Investors' interest in cryptocurrency and the demand from our fund service customers have risen sharply in recent years. Our fund and institutional custody customers have accelerated their plans for the offer of cryptocurrencies, and in response, we have made it a priority to make our ability to offer custody services.
The US bank established its blockchain and cryptocurrency practice for the first time in 2015 when the Bitcoin price was less than $ 200. The price of btc at the time of writing is around 50,000 US dollar.
The bank announced the introduction of three cryptocurrency offers in April in order to meet the "growing needs of customers". The first was the custody service, which is now live. The second was an investment in Securrency, a developer of blockchain-based financial and regulatory technology at an institutional level. The third was that the US Bank had been selected this year to manage Nydig's ETF Bitcoin Fund until the official permits were granted.
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