Share this article
US Bank Launches Crypto Custody With NYDIG Backing
The service will support private funds holding BTC, BCH and LTC, with an ETH option in the works, a source told CoinDesk.
By Danny Nelson
Updated May 11, 2023, 5:48 p.m. Published Oct 5, 2021, 5:25 p.m.
U.S. Bank on Tuesday launched its cryptocurrency custody program with NYDIG, a major bitcoin investment firm, helping out.
Crypto plans from the fifth-largest bank in America were first teased in April.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The new service supports institutional crypto funds invested in bitcoin, bitcoin cash and litecoin, according to a source. It will only be open to private fund managers in the U.S. and the Cayman Islands. NYDIG will handle their private keys as the bank’s sub-custodian.
It’s not the first time the pair have tied up. Minnesota-based U.S. bank agreed to serve as administrator for NYDIG’s planned bitcoin exchange-traded fund in April, as CoinDesk previously reported.
“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,” Gunjan Kedia, vice chair of U.S. Bank Wealth Management and Investment Services, said in a press release.
Read more: US Bank Selects Cryptocurrency Custodian, Wins Admin Role for NYDIG’s Bitcoin ETF
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Sberbank issues Russia's first crypto-backed loan to bitcoin miner Intelion Data
Sberbank used its in-house crypto custody tool to back a loan for mining firm Intelion Data, signaling broader interest in crypto lending.
What to know:
- Sberbank issued Russia's first bitcoin-backed loan to a major bitcoin miner, marking a pilot transaction with potential for future expansion.
- The loan utilized Sberbank's crypto custody product, Rutoken, to secure the bitcoin collateral, ensuring asset safety.
- Sberbank is exploring decentralized finance instruments and supports the gradual legalization of cryptocurrencies in Russia.
Top Stories
