U.S. Bancorp Offers Crypto Services to Private-Fund Clients (1)

U.S. Bancorp, the nation’s largest regional bank by assets, said its offering cryptocurrency custody services to institutional investment managers with private funds in the U.S. or the Cayman Islands.

The Minneapolis-based lender will initially provide the service for Bitcoin, and plans to add support for other tokens, the company said in a statement Tuesday. Bitcoin technology and financial services firm NYDIG will act as the bank’s first crypto sub-custodian. U.S. Bancorp first detailed plans for the offering alongside other cryptocurrency-focused initiatives in April.

“Investor interest in cryptocurrency and demand from our fund services clients have grown strongly over the ...