US Bank launches cryptocurrency investment services

U.S. Bank on Tuesday debuted its cryptocurrency custody services. The service will be accessible to their global fund services clients who are in need of a safe haven for their bitcoin transactions and more support will be added to the platform. 

The bank also indicated in its announcement that the bitcoin-focused technology and financial services platform NYDIG will be the first crypto sub-custodian to join its network of providers.

“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. The environment is complex, with an evolving regulatory landscape and nascent technology platforms,” said Gunjan Kedia, vice chair, U.S. Bank wealth management and investment services.

Robert Gutmann, co-founder and CEO of NYDIG, expressed his excitement about the partnership, adding that both firms are fitting collaborators as far as the mission to increase access to this growing asset class is concerned.