US Bank said it restarted cryptocurrency offerings for institutional investment managers, expanded service to include Bitcoin Funds exchanged by exchange (ETFS).
The program, which first rolls in 2021 and will be held in 2022, is available on an early access to accessing the US bank’s global funding service, Said the bank Wednesday.
Caution operations will be supported by Nydig, which acts as a bank sub-custodian for Bitcoin.
Stephen Philipson, vice chairman of the US Bank Wealth, Corporate, Commercial and Institutional Banking, said the transition was prompted by the revised regulatory clarity.
“We are proud that we were one of the first banks who offered a cryptocurrency preservation for funding and clients of the institution in 2021, and we were excited to continue the service this year,” he said.
Nydig CEO Tejas Shah framed collaboration as a way to bring grade-institutional protections to access to Bitcoin. “Also, we can bridge the gap between traditional finances and the modern economy,” he said.
The US bank has more than $ 11.7 trillion in property under caution and management until June 30. Its services cover ETFs, funding, funding, corporate confidence and wealth management.
