How US banks are dipping their toes in the crypto water

economictimes.indiatimes.com:

Here is how some of the biggest banks operating in the United States have gotten involved in crypto: CUSTODY SERVICES

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Bank of New York Mellon announced in February 2021 that it would hold, transfer and issue bitcoin for asset management clients, one of the first announcements of its kind for a major Wall Street bank. The launch is expected later this year. Clients will be able to store bitcoin and ether, the two largest cryptocurrencies, in BNY Mellon crypto wallets, which will be created in partnership with crypto infrastructure company Fireblocks. U.S. Bancorp went live in October with bitcoin custody services. Bitcoin company NYDIG is acting as a sub-custodian for the bank. The services are geared toward institutional investment managers with private funds. State Street Corp in March said it intends to offer cryptocurrency custody services in partnership with crypto infrastructure platform Copper.co, although it cautioned that the offering was subject to regulatory approval. Meanwhile, Deutsche Bank quietly revealed plans to develop a service to hold and trade cryptocurrencies for institutional investors in a 2020 report published by the World Economic Forum, adding it had already completed a proof of concept. Also in 2020, BNP Paribas completed a proof of concept with crypto wallet provider Curv to develop a secure method to transfer tokenized securities. It said the development was a step toward creating an integrated custody solution for both traditional and digital assets. Deutsche Bank and BNPP did not provide an update on these projects when contacted by