The post New Reports from Wall Street Giants Signaling Entry into the Cryptocurrency Industry – Here are the Details appeared on BitcoinEthereumNews.com.

Some of the largest U.S. banks are moving into the crypto space, taking advantage of regulatory ease under President Donald Trump to expand their digital asset services. While full-scale crypto trading remains a challenge due to regulatory hurdles, digital asset custody services are emerging as a primary focus for institutional investors. According to The Information’s crypto reporter Yueqi Yang, banks like State Street, BNY Mellon, and Citigroup are actively working to establish or expand crypto custody operations. State Street, a major player in the traditional asset custody space, is set to launch digital asset custody services next year. BNY Mellon, which already offers limited custody for Bitcoin and Ethereum, is looking to expand its offering to include more tokens. Meanwhile, Citigroup is exploring ways to enter the space by developing its own custody services or partnering with external firms. Despite this growing interest, many banks still face significant regulatory hurdles. Institutions that want to offer crypto services must obtain approval from the Federal Reserve and the New York Department of Financial Services. In addition, regulatory capital requirements add another layer of complexity that slows down entry into crypto trading. At the same time, major crypto firms like Coinbase are in talks with banks to offer custody and trading services, signaling increasing collaboration between traditional finance and the digital asset industry. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/new-reports-from-wall-street-giants-signaling-entry-into-the-cryptocurrency-industry-here-are-the-details/

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Filed under: News - @ February 15, 2025 11:22 am