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The service, which is being relaunched as an early access program for Global Fund Services clients, is designed to provide secure safekeeping solutions for bitcoin, with NYDIG serving as the sub-custodian.
Stephen Philipson, vice chair of U.S. Bank Wealth, Corporate, Commercial and Institutional Banking, highlighted the bank’s pioneering role in digital finance. “We’re proud that we were one of the first banks to offer cryptocurrency custody for fund and institutional custody clients back in 2021, and we’re excited to resume the service this year. Following greater regulatory clarity, we’ve expanded our offering to include bitcoin ETFs, which allows us to provide full-service solutions for managers seeking custody and administration services.”
