July 4, 2022

American Bank U.S Bank has created a depository of cryptocurrencies

The continued growth of cryptocurrencies has led to the introduction of institutional investors into this area. Banking organizations also publicly announce the plans for the provision of cryptoservices to their respective clients. The last of them was the fifth largest American bank US Bancorp.

American Bank, subsidiary of holdingUS Bancorp, announced the launch of a new security product for managing cryptocurrencies. An American bank with assets under management in excess of $ 554 billion has applied for cooperation with a sub-storage.

It is also said that he has been chosen to controlfuture bitcoin ETFs NYDIG, of course, if the Securities and Exchange Commission (SEC) approves this initiative. The bank declared that it became possible due to long-term relations with the company providing financial services.

US Bank decision to add storage servicesCryptocurrencies are associated with the growing demand from the side of customers, including the well-known pension funds and strategy companies, which are willing to get more money. According to these clients, the cryptocurrency is a class of assets that they would like to own because of the extreme speed in the last decade.

An American bank from Minnesota has declared thathas been studying the crypto space since 2015. Due to this, an infrastructure was developed that is not necessary for storing a cryptocurrency, including a flow for combating money laundering (AML) and heating