Fifth-largest US Retail Bank To Launch Bitcoin Custody Services

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Today, the fifth biggest retail bank in the nation, U.S. Bank, is expected to announce that its Bitcoin custody services are available to fund managers, CNBC reported.

The service will custody Bitcoin private keys for fund managers through a partnership with NYDIG, Gunjan Kedia, vice chair of the bank’s wealth management and investment services division told CNBC.

It is likely the fund managers, U.S. Bank, and NYDIG will all partake in a multisignature Bitcoin private key solution, which requires a majority of private key holders sign off before Bitcoin can be spent, and is broadly understood to be a strong security method for institutional buyers.

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