Tag: Custody

US banks can handle customer crypto assets held in custody, regulator confirms

coiner

The US Office of the Comptroller of the Currency (OCC) has confirmed banks under its jurisdiction can trade crypto on behalf of customers and outsource some crypto activities to third parties.  Acting comptroller Rodney Hood said in a May 7 letter that banks and federal savings associations can buy and sell crypto they hold in custody at customers’ direction. The OCC added in a press release that financial institutions can also outsource bank-permissible crypto activities, including custody and execution services, to third parties in compliance with applicable law. “Additionally, these…

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Standard Chartered Bank Launches Bitcoin and Crypto Custody Service in UAE

coiner

Standard Chartered has officially launched its digital asset custody service in the UAE, according to an announcement from the bank. The service has been licensed by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC), following a memorandum of understanding signed in May 2023. JUST IN: $800 billion Standard Chartered bank launches #Bitcoin and crypto custody service in the UAE 🇦🇪 pic.twitter.com/dlNqdVpi0J — Bitcoin Magazine (@BitcoinMagazine) September 10, 2024 “The launch of our digital asset custody offering represents a pivotal moment not just for Standard Chartered, but…

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BlackRock Nears Filing Bitcoin ETF Application, Leveraging Coinbase Custody

coiner

BlackRock, the worlds largest asset manager, is reportedly on the brink of submitting an application for a Bitcoin ETF (exchange-traded fund), as disclosed by a reliable source familiar with the matter.  In their pursuit of a Bitcoin ETF, BlackRock has chosen Coinbase Custody as their trusted custodial solution. Moreover, the asset manager will rely on Coinbase’s spot market data to ensure accurate and reliable pricing for the ETF. Coinbase and BlackRock have so far refrained from providing any official comments on the matter. While the specifics of the upcoming ETF…

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