How US Banks Are Dipping Their Toes in the Crypto Water

4/6/2022|Updated: 4/23/2022

Last week, a top U.S. banking regulator warned of growing risks as banks start to capitalize on the popularity of cryptocurrencies to offer related services to clients.

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

Custody Services

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.