Industry startups cheer the OCC's crypto custody move, but don't bet on big banks jumping into bitcoin just yet

Quick Take

  • The U.S. Office of the Comptroller of the Currency has opened the door for banks under its regulatory remit to offer crypto custody services.
  • Industry startups cheered the move and pointed to potential business opportunities for the sector.
  • Experts say the real beneficiaries will be small and medium banks — big banks not so much.
Crypto startups see opportunity in today's OCC custody announcement. But it doesn't mean Wall Street is ready to play ball just yet.

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