US Bancorp has announced the resumption of its digital asset custody services for institutional investors, following regulatory changes.
US Bancorp Returns to the Crypto Market
US Bancorp has resumed its digital asset custody services for institutional investment managers. The restart occurred following a regulatory change under President Donald Trump's administration, which rolled back a previous SEC requirement for banks to hold capital on their balance sheets for crypto-related activities. According to Bloomberg, this has created more favorable conditions for financial institutions.
Initial Bitcoin Custody Services
Initially, US Bancorp will focus on providing custody services for Bitcoin, starting with registered investment funds and Bitcoin ETF providers. The bank is considering expanding its services to include other cryptocurrencies that meet its internal risk and compliance standards.
Growing Interest from Banks in Crypto Custody
Recently, there has been a growing interest among banks in the crypto market. One notable example is Deutsche Bank, which announced in July its plans to allow its clients to store cryptocurrencies, including Bitcoin, starting in 2026. Additionally, Citigroup is considering offering cryptocurrency custody and payment services to its clients, also as a reaction to changes in regulation.
US Bancorp's return to the crypto market could signal a new phase for traditional banks looking to integrate digital assets into their financial products and services.
