Us Bank said he restarted Cryptocurrency Custody offers for institutional investment administrators, expanding the service to include Bitcoin Exchange quoted funds (ETF).
The program, first launched in 2021 and was suspended in 2022, is available at an early access base through the Global Funds Division of the US Bank. UU., The bank said on Wednesday.
Custody operations will be backed by Nydig, which acts as the Bank’s subcustodian for Bitcoin.
Stephen Philipson, vice president of the wealth of the American bank, the corporate, commercial and institutional bank, said the measure was promoted by renewed regulatory clarity.
“We are proud to have been one of the first banks to offer cryptocurrency custody for clients of funds and institutional custody in 2021, and we are excited to resume the service this year,” he said in the statement.
The Nydig CEO, Tejas Shah, framed the association as a way of carrying institutional degree to Bitcoin access. “Together, we can close the gap between traditional finances and the modern economy,” he said.
The American bank had more than $ 11.7 billion in assets in custody and administration as of June 30. Its services cover ETF, custody of funds, fund management, corporate trust and heritage management.
