After facing backlash for comments suggesting that regulated entities like BlackRock and Fidelity are safer options for holding Bitcoin, MicroStrategy founder Michael Saylor clarified his stance on self-custody. In a tweet, Saylor expressed his support for individuals who choose to self-custody their Bitcoin, while also advocating for the right of everyone to make their own...Read More
The Security and Exchange Commission’s accounting bulletin 121 (SAB 121) requires companies, including banks, to hold crypto assets for clients as a liability on their balance sheets. This makes it inefficient for large banks to offer crypto custody services. Both the House and Senate passed a bipartisan Congressional Review Act (CRA) resolution to nullify this guidance,...Read More
Commerzbank AG – the fourth largest bank in Germany – has received its Crypto Custody License after unveiling plans to break into digital asset safekeeping almost two years ago. This makes Commerzbank the first full-service bank in Germany to receive the license. Commerzbank Enters Crypto Custody Per a press release on Wednesday, the bank’s new...Read More
The largest bank in Germany in terms of total assets – Deutsche Bank – has reportedly sought regulatory permission to start operating as a crypto custodian. DZ Bank – another leading financial institution in the country – has already progressed in that field, partnering with Metaco and Harmonize to offer digital asset custody to institutional...Read More
The leading stock exchange – Nasdaq Inc. – could make another push toward the cryptocurrency sector by launching custody services by the end of the second quarter of this year. Fidelity and Bank of New York Mellon are other financial behemoths that offer such options. Ira Auerbach – Senior Vice President and Head of Nasdaq...Read More
The Singapore-based cryptocurrency platform Juno announced that all services are “now up and running again.” It increased daily withdrawal limits at the beginning of the year and urged customers to transfer their holdings into self-custody wallets, citing issues with its previous custodian partner – Wyre. Back on Track Juno temporarily halted cryptocurrency purchases on its platform in...Read More
The cryptocurrency firm – Juno – advised its users to withdraw their assets and store them in self-custody wallets or sell their holdings for cash because of “uncertainty” with its partner. The company plans to solve the issues by finding a new associate. A Warning Before the Storm? In a recent Twitter thread, Juno revealed...Read More
Ray Youssef – Chief Executive Officer of crypto platform Paxful – said customers should never keep their bitcoin holdings on centralized exchanges. Instead, they must self-custody their possession to prevent becoming victims in another crash similar to the FTX one. Don’t Trust Centralized Entities Youseff urged market participants to store their bitcoin in self-custody wallets. He...Read More
The moves are hardly surprising considering that FTX, the world’s second-largest exchange, was considered pretty much bulletproof. The collapse of the exchange proves that it was not too big to fail, especially if it didn’t have the reserves to cover the bank run that occurred. Over the past week or so, Bitcoin investors have been...Read More
BNP Paribas – a French international banking group – reportedly partnered with Metaco to start providing cryptocurrency custody services to its clients. According to a recent coverage, one of the leading banks in Europe – BNP Paribas – entered the digital asset universe by joining forces with the Swiss-based crypto custody provider – Metaco –...Read More
Slate Street – a bank holding company headquartered in Boston – has partnered with crypto infrastructure provider “Copper” to launch institutional-grade digital asset custody for its clients. Upon regulatory approval, the firm will offer custody services for some of the most “active” cryptocurrencies including Bitcoin, Ethereum, Cardano, Solana, and Polkadot. “The firm will leverage its...Read More
The cryptocurrency lending platform – Nexo – joined forces with the Nasdaq-listed digital asset company – Bakkt Holdings. As a result, the latter will custody a portion of Nexo’s Bitcoin and Ethereum holdings in the Bakkt Warehouse. Bakkt’s Newest Partnership The Bakkt Warehouse comprises both online (“warm”) and offline (“cold”) digital asset storage. The company...Read More
One of the largest financial institutions in South Korea – Woori Financial Group – will offer crypto custody services to its clients. Its banking unit – Woori Bank – will launch the initiative in a partnership with the fintech solutions provider – Coinplug Inc. Woori Bank Dives into Crypto According to a report from The...Read More
American multinational investment bank Cowen Inc. will join some Wall Street organizations after announcing plans to hold digital assets for hedge funds and asset managers. The firm partnered up with Standard Custody & Trust Co. to provide ”institutional-grade” custody services for cryptocurrencies. The Demand Is Here The recent rally of most crypto assets has caught...Read More
PayPal could be in talks to buy a cryptocurrency startup focused on providing security solutions for cryptocurrency custody. According to diferent reports, PayPal is interested in acquiring Curv, and the talks between the two companies’ teams are an open secret in the global tech scene – though perhaps no longer a secret considering how quickly...Read More
The Puerto Rico Office of the Commissioner of Financial Institutions (OCIF) has granted permission to FV Bank to provide custody services for cryptocurrency assets such as Ethereum and Bitcoin. The institution plans to integrate the new service into its digital banking platform as of early 2021. FV Bank Granted Permission To Be A Crypto Custodian...Read More
MicroStrategy is hodling A LOT of Bitcoin, and it’s coming for more. The corporation just revealed that it’s looking for financing to acquire an additional stash of Bitcoin. The company shared the information in an official announcement on its website on December 7, 2020. According to the Press Release, MicroStrategy would be contemplating a $400...Read More
Now the United States can boast a new crypto bank: Welcome Avanti. Avanti Financial Group, a firm founded by the former managing director at Morgan Stanley, Caitlin Long, announced that it had been granted a license to offer banking services by the Wyoming State Banking Board. Avanti is The Second Crypto-bank Operating in the United...Read More
The large South Korean bank KB Kookmin Bank plans to launch a cryptocurrency custodial service for its clients. The new feature will be available after a partnership with the blockchain venture fund Hashed, the digital asset trading platform Cumberland Korea, and the smart contract security audit firm – Haechi Labs. Crypto Custody For KB Kookmin...Read More
Switzerland-based digital asset service company Bitcoin Suisse has successfully raised nearly $50 million in a Series A financing round. The company plans to utilize the funds to enhance its staking services and custodial solutions before initiating an STO. Bitcoin Suisse Raises $50M As CryptoPotato reported in May, Bitcoin Suisse AG planned to hold new funding...Read More
