US Bank Launches Crypto Custody With NYDIG Backing

Posted on by American Coins & Gold

US Bank Launches Crypto Custody With NYDIG Backing
U.S. Bank on Tuesday launched its cryptocurrency custody program with NYDIG, a major bitcoin investment firm, helping out.Crypto plans from the fifth-largest bank in America’s were first teased in April.The new service supports institutional crypto funds invested in bitcoin, bitcoin cash and litecoin, according to a source. It will only be open to private fund managers in the U.S. and the Cayman Islands. NYDIG will handle their private keys as the bank’s sub-custodian.It’s not the first time the pair have tied up. Minnesota-based U.S. bank agreed to serve as administrator for NYDIG’s planned bitcoin exchange-traded fund in April, as CoinDesk…