American financial services giant said on Wednesday that it will resume its crypto custody services, a decision that will bring its digital assets arm to life after a three-and-a-half-year pause, as per an official press release. The service is for institutional investment managers who handle private funds. U.S. Bancorp has more than $11.7 trillion in assets in its custody.
“We’re proud that we were one of the first banks to offer cryptocurrency custody for fund and institutional custody clients back in 2021, and we’re excited to resume the service this year. Following greater regulatory clarity, we’ve expanded our offering to include bitcoin ETFs, which allows us to provide full-service solutions for managers seeking custody and administration services,” said Vice Chair Stephen Philipson.
“U.S. Bank has been at the forefront of exploring how digital assets can serve our clients. Further expanding our capabilities unlocks new opportunities to deliver innovative solutions to those we serve. U.S. Bank will continue to drive progress and shape the future of what matters for our clients in digital finance,” said senior executive vice president Dominic Venturo
Source: Google Finance