U.S. Bancorp launches cryptocurrency custody service for investment managers

Oct 5 (Reuters) – U.S. Bancorp (USB.N) said on Tuesday it had launched a cryptocurrency custody service for institutional investment managers who have private funds in the United States and Cayman Islands.The fifth largest U.S. bank said bitcoin-focused financial services firm NYDIG will act as a sub-custodian and the service will soon support cryptocurrencies besides bitcoin as well.“Investor interest in cryptocurrency and demand from our fund services clients have grown strongly over the last few years,” Gunjan Kedia, vice chair of the bank’s wealth management and investment services said.Despite wild price swings in bitcoin and …
Read more…….