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Fifth-largest US Retail Bank To Launch Bitcoin Custody Services

Today, the fifth greatest retail financial institution within the nation, U.S. Bank, is anticipated to announce that its Bitcoin custody providers are accessible to fund managers, CNBC reported.

The service will custody Bitcoin non-public keys for fund managers by way of a partnership with NYDIG, Gunjan Kedia, vice chair of the financial institution’s wealth administration and funding providers division informed CNBC.

It is doubtless the fund managers, U.S. Bank, and NYDIG will all partake in a multisignature Bitcoin non-public key answer, which requires a majority of personal key holders log off earlier than Bitcoin might be spent, and is broadly understood to be a powerful safety technique for institutional patrons.

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