State Street & Citi Bank to Launch Crypto Custody Services
The world’s largest custodian bank State Street & Citi Bank is launching crypto custody services, according to a report from The Information. State Street holds over $44 trillion in assets, while Citi holds around $2.14 trillion as of writing
The world’s largest custodian bank State Street & Citi Bank is launching crypto custody services, according to a report from The Information. State Street holds over $44 trillion in assets, while Citi holds around $2.14 trillion as of writing.
Banks across the United States are beginning to give more attention to the digital asset industry. With the Federal Reserve’s recent decision to let Banks make their own responsible decisions around housing crypto, multiple institutions are deciding to launch custody services. The addition of crypto ETFs in 2024 was also a huge help, as those have been successful since launch. State Street currently houses three actively managed digital assets and disruptive technology-focused ETFs sub-advised by Galaxy Asset Management.
