U.S. Bank has announced that its cryptocurrency custody services are now live and available to their Global Fund Services clients.
The services are intended for institutional investment managers with private funds in the U.S. or Cayman Islands who would like a safekeeping solution for Bitcoin – with additional coin support coming soon. NYDIG, a leading technology and financial services company dedicated to Bitcoin, is the first crypto sub-custodian announced in the bank’s network of providers.
“Investor interest in cryptocurrency and demand from our fund services clients have grown strongly over the last few years,” said Gunjan Kedia, vice chair, U.S. Bank Wealth Management and Investment Services. “Our fund and institutional custody clients have accelerated their plans to offer cryptocurrency and, in response, we made it a priority to accelerate our ability to offer custody services.”
Kedia adds, “The environment is complex, with an evolving regulatory landscape and nascent technology platforms. Our clients are looking for a service offering that is consistent with U.S. Bank’s exceptional standards of quality and risk management. Integrity and expertise are critical to safeguarding our clients’ most valuable assets, so we’re thrilled to offer our institutional clients NYDIG’s industry-leading Bitcoin expertise, backed by the financial strength of U.S. Bank.”
“NYDIG is excited to partner with U.S. Bank to provide its customers with a custody solution that meets the highest security, compliance and regulatory standards,” said Robert Gutmann, co-founder and CEO of NYDIG. “Together, we can facilitate access to this growing asset class while delivering the best-in-class experience that U.S. Bank’s clients have come to expect.”
