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October 6, 2021

US Bancorp unveils cryptocurrency custody services for investment managers

By Verdict Staff

US Bancorp has launched new cryptocurrency custody services for institutional investment managers with private funds in the US and Cayman Islands.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
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  • Assess and showcase the growth potential for various Industries in the target economy
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by GlobalData
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Bitcoin-based financial services firm NYDIG will act as the sub-custodian for the service, which will support cryptocurrencies other than bitcoin in the future.

The bank said that the new custody services are now available to its Global Fund Services clients.

US Bank Wealth Management and Investment Services vice chair Gunjan Kedia said: “Investor interest in cryptocurrency and demand from our fund services clients have grown strongly over the last few years.

“Our fund and institutional custody clients have accelerated their plans to offer cryptocurrency and, in response, we made it a priority to accelerate our ability to offer custody services.”

As part of its strategy to expand in the cryptocurrency space, US Bank recently invested in blockchain-based financial and regulatory technology developer Securrency.

Commenting on the latest development, NYDIG co-founder and CEO Robert Gutmann said: “NYDIG is excited to partner with US Bank to provide its customers with a custody solution that meets the highest security, compliance and regulatory standards.

“Together, we can facilitate access to this growing asset class while delivering the best-in-class experience that US Bank’s clients have come to expect.”

Meanwhile, the increasing popularity of cryptocurrencies have attracted the interest of a slew of financial institutions in recent years.

This August, investment platform Titan launched an actively managed portfolio of cryptocurrency assets for investors in the US.

In September, Crypto Finance received a regulatory nod from FINMA for its Swiss crypto asset fund.

The same month, investment management company Invesco teamed up with upstart digital asset firm Galaxy to launch a range of funds backed by cryptocurrencies including bitcoin.

In July, State Street teamed up with Lukka to expand digital asset fund administration capabilities for its alternative investment clients.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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