Wealth, Corporate, Commercial and Institutional Banking, mentioned that the decision was influenced by renewed regulatory clarity.
“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,” he said in the release.
NYDIG CEO Tejas Shah described the collaboration as a means to introduce institutional-grade safeguards to bitcoin access. “Together, we can bridge the gap between traditional finance and the modern economy,” he added.
As of June 30, U.S. Bank managed over $11.7 trillion in assets under custody and administration. Their services extend across ETFs, fund custody, fund administration, corporate trust, and wealth management.
