File Photo: The representation of the virtual cryptocurrency Bitcoin can be seen in the figure in this photo taken on June 14, 2021. REUTERS / Edgar Su / Illustration
October 5, 2021
(Reuters) – US Bancorp said on Tuesday that it launched a cryptocurrency custody service for institutional investors with private funds in the United States and the Cayman Islands.
The fifth-largest bank in the United States said Bitcoin-focused financial services company NYDIG will act as a sub-custodian and the service will soon support cryptocurrencies other than Bitcoin.
Gunjan Kedia, Vice President of Wealth Management and Investment Services at Banks, said:
Despite the sharp price fluctuations of Bitcoin and the increasing crackdown on regulations, major financial institutions are investing in and expanding their offerings in the field of cryptocurrencies.
In July, Business Insider reported https://bit.ly/2WeyK7X, JPMorgan Chase & Co allowed all wealth management clients access to crypto funds, and Citigroup Inc in August at nL4N2PV3DG, with some He said he is considering offering Bitcoin futures trading to institutional investors. ..
(Report by Sohini Podder in Bangalore, edited by Vinay Dwivedi)