U.S. Bank announces new cryptocurrency custody services for institutional investment managers
October 05 2021 - 8:55AM
Business Wire
NYDIG will act as sub-custodian
U.S. Bank announced today 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.”
U.S. Bank is committed to delivering the most forward-looking
digital assets innovation, as evidenced by the bank’s investment
earlier this year in Securrency, a developer of institutional-grade
blockchain-based financial and regulatory technology.
U.S. Bank Wealth Management and Investment Services has more
than $8.6 trillion in assets under custody and administration and
$282 billion in assets under management globally as of June 30,
2021. In addition to offering alternative investment, fund custody,
and fund administration services, it also offers asset management
products and services, corporate trust and custody services, and
wealth management services. To connect with U.S. Bank about
cryptocurrency custody services, visit
usbank.com/investment-services.
About U.S. Bank U.S. Bancorp, with nearly 70,000
employees and $559 billion in assets as of June 30, 2021, is the
parent company of U.S. Bank National Association. The
Minneapolis-based company serves millions of customers locally,
nationally and globally through a diversified mix of businesses:
Consumer and Business Banking; Payment Services; Corporate &
Commercial Banking; and Wealth Management and Investment Services.
The company has been recognized for its approach to digital
innovation, social responsibility, and customer service, including
being named one of the 2021 World’s Most Ethical Companies and
Fortune’s most admired superregional bank. Learn more at
usbank.com/about.
About NYDIG NYDIG provides Bitcoin technology and
financial services solutions to banks, insurers, corporations, and
institutions. The firm and its products meet the industry's highest
regulatory, audit, and governance standards. Learn more at
nydig.com, or connect on LinkedIn and Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20211005005811/en/
U.S. Bank Kimberly Mikrot, U.S. Bank Public Affairs &
Communications kimberly.mikrot@usbank.com | 612.206.2553
NYDIG Conor Shea, Edelman conor.shea@edelman.com |
812.320.9980
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