U.S. Banks Eye Crypto Services

Several major U.S. banks are exploring the possibility of offering cryptocurrency services aimed at large funds, investors, and traders to capitalize on relaxed regulations from the previous administration. State Street plans to introduce digital asset custody next year, while BNY has a small custody operation for Bitcoin and Ethereum and intends to expand its offerings. Citi is also looking into providing crypto custody services, either through in-house development or collaborations with other companies.