custody

Can banks be their own bank? Deutsche Bank, BNY Mellon plan custody services

As multiple banks prepare crypto custody services, holders now have to flip an old Bitcoin saying on its head: are the banks prepared to be their own (and others’) bank?  Last week BNY Mellon, the oldest bank in the United States, announced they would be providing custody solutions, ceding to pressure from institutional investors. Likewise, …

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BNY Mellon Announces Crypto Custody and Spies Integrated Services

BNY Mellon, the world’s largest custodian bank with some $41 trillion in assets in its safekeeping, is moving into crypto. Announced Thursday, BNY Mellon will roll out a new digital custody unit later this year, to help clients deal in digital assets, including cryptocurrencies.  Banks exploring digital assets, or large app providers like PayPal offering …

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These Two Firms Want to Upgrade Crypto Infrastructure for Banks and Exchanges

Announced Tuesday, METACO and Cobalt are launching a software-as-a-service (SaaS) offering that covers the full gamut of institutional trading requirements for digital assets. In short, it brings a combination of bank-grade custody and post-trade settlement to crypto.  “There is very little institutional-grade infrastructure within digital, in fact, I’m gobsmacked at how little there is,” said …

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BitGo Taps Former Coinbase Exec Jeff Horowitz as Chief Compliance Officer

Qualified cryptocurrency custodian BitGo has hired Coinbase’s former chief compliance officer to lead its compliance and anti-money laundering programs. Jeff Horowitz led Coinbase’s global compliance program before leaving in October. Prior to Coinbase, he spent 12 years with Pershing, a clearing house owned by BNY Mellon.  Horowitz was also co-chair of the Securities Industry and …

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Aegis Custody Clears Hurdle in Bid for South Dakota Trust Charter

Digital asset custodian Aegis Custody has received the South Dakota Division of Banking’s blessing to start forming a trust company in the state. The full-service digital asset shop must clear a series of minor regulatory hurdles before it can secure the trust charter necessary to do business, President Michael McCarty said. He said the process …

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Crypto Custodian Copper Aims to Bridge Gap Between DeFi and Traditional Finance With New Tool

Crypto custodian Copper is looking to connect institutions to the emergent world of decentralized finance (DeFi) with a newly unveiled product.  Announced Friday, CopperConnect is a bridge between Copper’s existing storage services and DeFi apps. In a press release for the new tool, Copper claims DeFi risks have been decreasing, making the speculative field more …

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Coinbase Has Raked in $14B in New Institutional Assets Since April

Coinbase has seen a $14 billion increase in institutional assets under custody since April, its head of institutional coverage at Coinbase said in a YouTube interview published on Friday. Brett Tejpaul told interviewer Eliisabetta Bartolini, partner at Heidrick & Struggles, that institutional assets under custody were $6 billion when he joined the firm in April …

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Custodian Anchorage Seeks Charter From Crypto-Friendly US Bank Regulator OCC

The cryptocurrency and banking worlds continue to draw closer together with digital asset custodian Anchorage seeking a national charter from the U.S. Office of the Comptroller of the Currency. The startup’s trust company unit, based in South Dakota, has applied to the OCC to convert to a national bank, according to a notice dated Nov. …

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This Crypto Custody Breakthrough Will Bring Banks Closer to Digital Assets

Stealth-mode crypto custody specialist Shard X has claimed a breakthrough, being the first company to successfully run math-heavy, multi-party computation (MPC) on hardware security modules (HSMs). So why does this alphabet soup of security tech matter?  In summary, HSMs are a battle-tested way to store private keys, particularly popular in consumer products like Ledger and …

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Hong Kong’s Amber Group Picks BitGo Trust in Quest for Institutional Investors

Crypto market maker Amber Group will service its clientele of institutional traders with the help of BitGo Trust, the custodial arm of the Palo Alto-based security firm. BitGo’s status as a qualified custodian should draw more high-net-worth investors to Amber from places like Hong Kong, Taiwan and Seoul, the companies said. The Hong Kong-based market …

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