American banks will store the clients' cryptocurrencies

According to a letter issued yesterday by the Office of the Comptroller of the Currency, US federal banks can now offer banking services.storage of cryptocurrencies.

The docoument explains that the owners of the cryptocurrencyneed reliable storage of their assets in institutions such as banks. Responsibly, the decision to allow banks to create cryptography in a natural way follows from their long-standing concern in the protection of physical assets.

This step testifies to the new attitude of Management under the leadership of Brian Brooks, who worked at Coinbase, to cryptocurrencies.

Speaking about the importance of this decision, Brooks said:

«We must create conditions under whichBanks will be able to satisfy the needs of their clients for financial services, from safes to virtual vaults. Today, the issue of storing cryptocurrencies affects tens of millions of Americans.

In the frame of the accessory, the supplied cans,Organizations undertake to separate clients' assets from their own cryptocurrencies. In addition, the bank's regulator made the bank a prescription to maintain the highest safety standards.

The approval assumes that financial institutions can store copies of their customers' private keys or allow people to store virtual assets in their free windows.

Prior to this announcement, some statethe banks were already providing services on the basis of cryptography. The top giants Coinbase and Bakkt have already created codial solutions on their cryptocurrency platforms. Such corporations, like Fidelit Investments, develop similar plans.

Safe storage for cryptocurrencies everywhereConsidered the basic condition for a wider implementation. Some companies even develop technologies that allow you to efficiently trade and make baked goods directly from cold wallets.

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