US Bank will launch crypto custody, pending compliance tests
April 27, 2021, 2:38PM EDT
1 min read
Per an April 27 blog post, U.S. Bank is finalizing cryptocurrency custody services.
The actual announcement says that the new services are contingent upon the selection of a sub-custodian to contract under U.S. Bank.
Christine Waldron, Chief Global Strategy Officer for Global Fund Services at U.S. Bank, told The Block "We have made the selection. We're working through our operational integration and our risk and compliance process." There is, however, no confirmed timeframe for when these services will go live.
By assets under management, U.S. Bank is one of the largest in the country. The firm's blockchain and crypto practice dates back to 2015. Those services have expanded in recent months, thanks in no small part to new guidance from the Office of the Comptroller of the Currency.
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