Payments

U.S. Bank resumes crypto custody services

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September 4, 2025

U.S. Bank will offer cryptocurrency custody services for its Global Fund Services clients. The bank last offered this service in 2021, according to a press release.

NYDIG will act as the bitcoin sub-custodian for this service, which is designed for investment managers who want a secure way to keep bitcoin. Stephen Philpson, vice chair for U.S. Bank wealth, corporate, commercial and institutional banking said in the release that this will also include bitcoin ETFs, "which allows us to provide full-service solutions for managers seeking custody and administration services."

"NYDIG is honored to partner with U.S. Bank as its primary provider for bitcoin custody services," Tejas Shah, CEO of NYDIG, said in the release. "Together, we can bridge the gap between traditional finance and the modern economy by facilitating access for Global Fund Services clients to bitcoin as sound money, delivered with the safety and security expected by regulated financial institutions."