U.S. Bank, the fifth-largest retail bank in the United States, announced Tuesday that it is launching a cryptocurrency custody service for institutional investors, potentially setting the stage for wider mainstream acceptance of digital assets.
As CNBC reported, U.S. Bank has partnered with New York Digital Investment Group, or NYDIG, to provide custody services for Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC). Gunjan Kedia, a senior executive at U.S. Bank’s wealth management and investment division, told CNBC that support for other cryptocurrencies like Ether (ETH) will be rolled out over time.
