US Bank has resumed offering cryptocurrency custody services as an early access programme to Global Fund Services clients.
The services are meant to be used by institutional investment managers with registered or private funds looking for a secure safekeeping solution for Bitcoin. NYDIG, a company specialising in integrated Bitcoin financial services, will act as the Bitcoin sub-custodian.
NYDIG develops proprietary infrastructure related to Bitcoin-driven services. The company’s infrastructure supports Bitcoin’s proof-of-work security, high-performance compute capacity, and capitalises on other productive deployments of scaled low-cost energy.
US Bank now offers Bitcoin ETFs
US Bank named itself one of the first banks to offer crypto custody for funds and institutional clients back in 2021. The initiative to resume the services in 2025 follows greater regulatory clarity, as the bank aims to expand its offering to include Bitcoin ETFs, which allow it to offer full-service solutions for managers seeking custody and administration services.
The alliance with NYDIG aims to bridge the gap between TardFi and the modern economy by facilitating access for Global Fund Services clients to bitcoin as a reliable currency provided safely and securely, in accordance with regulatory requirements.
The bank has been exploring how digital assets can serve its users, and further expanding its capabilities into this market unlocks opportunities for more developments dedicated to its clients. US Bank will continue to drive progress and contribute to the digital economy while tailoring its services to the needs and demands of its clients and staying compliant with the laws of the industry.
U.S. Bank Wealth, Corporate, Commercial and Institutional Banking currently has over USD 11.7 trillion in assets under custody and administration. Besides offering alternative investment, ETF, fund custody, and fund administration services, it delivers asset management products, corporate trust and custody, and wealth management solutions.
