US Bank, one of the five largest US banks, is launching a cryptocurrency asset custody service for investment managers.
Managers managing private funds will be able to store private keys from crypto wallets with Bitcoin, Bitcoin Cash and Litecoin. Later, the bank plans to expand the list of supported cryptocurrencies and add a Bitcoin ETF to the service (if regulators approve it).
Gunjan Kedia, Deputy Chairman of the bank noted:
Our funds and institutional custodian clients are increasingly interested in the topic of cryptocurrencies. In response, we have made it a priority to enhance our ability to offer custody services for digital assets.
US Bank manages more than $8.6 trillion in assets.
Subscribe to ForkNews on Telegram to stay up to date with the latest news from the world of cryptocurrencies
You May Also Like
Swiss crypto valley or the state at the helm of Blockchain innovation
From time immemorial, quiet Switzerland has been associated with the world’s most delicious chocolate, quality watches and, of course, developed banking. But it looks like this list can now be replenished with the country’s incredibly successful breakthrough in the crypto industry over the past 3 years. And there is an absolutely logical explanation for this order of things. This is the canton of Zug or the so-called Crypto Valley.
Revolut plans to issue its own token
The British company Revolut, which is valued at $33 billion, is preparing to issue its own token.
