Fifth largest bank in the US launches Bitcoin (BTC) and Litecoin (LTC) custody service

On Tuesday (October 5), it appears that U.S. Bank National Association (aka “U.S. Bank”) , the fifth largest commercial bank in the U.S., according to the latest data from the Federal Reserve, has launched a crypto custody service aimed at investment managers.

According to a report by CNBC published earlier today, U.S. Bank, which is a wholly-owned subsidiary of U.S. Bankcorp (NYSE: USB), Gunjan Kedia, vice chair of the bank’s wealth management and investment services division, told CNBC that this new service will “help investment managers store private keys for bitcoin, bitcoin cash and litecoin with assistance from sub-custodian NYDIG” and that “support for other coins like ethereum is expected over time.”

Keep reading