bitFlyer acquires FTX Japan, plans to launch crypto ETFs

The acquisition could be another step toward the first spot crypto ETF launching in Japanese markets.

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Germanys LBBW to Offer Crypto Custody Services Amid Rising Corporate Demand

Germany’s largest federal bank, Landesbank Bade­n-Württemberg (LBBW), cautiously venture­s into cryptocurrency. LBBW announced a strategic partne­rship with Bitpanda, an Austrian digital asset platform, on April 15, 2024. This alliance enable­s LBBW to offer crypto custody services to its corporate­ clients. The­ move reflects traditional financial institutions’ growing acce­ptance of digital assets and increasing demand for […]

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Taurus partners with Turkish digital bank BankPozitif

Taurus has partnered with BankPozitif to expand digital assets custody adoption across Turkey’s fintech ecosystm. The Swiss-based platform has recently launched its services on Solana and Hedera. Crypto custody provider Taurus has announced a major partnership with Turkish digital bank BankPozitif. Swiss-based Taurus noted in a blog post on March 4 that the strategic partnership […]

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Nasdaq Set to Revolutionize Crypto Market with Launch of Custody Services in Q2 2023

The post Nasdaq Set to Revolutionize Crypto Market with Launch of Custody Services in Q2 2023 appeared first on Coinpedia Fintech News

Despite the recent turmoil in the cryptocurrency market, with Bitcoin and other digital assets experiencing significant price swings, several firms are launching custody services to attract institutional investors. These services are designed to provide secure storage of digital assets, making them an essential component for the institutional adoption of cryptocurrencies. Nasdaq recently announced its plans …

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The First Crypto Bank in Puerto Rico Rolls Out Digital-Asset Custody Service

FV (Fintech Ventures) Bank, a global financial entity registered in the U.S. territory of Puerto Rico, has launched a digital-asset custody service for seamless safeguarding and interoperability of crypto and fiat. (Read More)

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Apollo Teams Up With Anchorage to Expand its Product Offering

Apollo Global Manage and Anchorage have partnered to expand the former's crypto products (Read More)

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Fidelity Set to Hire 100 Employees to Strengthen its Crypto Firm

Fidelity Digital Assets, the asset management Behemoth Fidelity's cryptocurrency division, has disclosed its plans to hire 100 new employees in the next six months to strengthen its workforce (Read More)

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Nasdaq to offer crypto custody via new Digital Assets unit

Nasdaq Inc. is getting into the cryptocurrency space proper with a brand new digital assets unit targeting institutional investors, Tal Cohen, the firm’s Executive VP and Head of North American Markets said in an interview on Tuesday.

According to Cohen, Nasdaq has since 2021 looked to understand how best to increase institutional adoption of digital assets. 

And as part of their deep-dive into this, the stock exchange engaged crypto companies or platforms seeking to get in, with the goal of understanding pain points for institutional investors.

The Nasdaq Digital Assets is a dedicated division whose development builds on the input and insight gathered from players within crypto and big-money investors who see the exchange as a trusted platform.

Initially, Nasdaq will only offer crypto custody services to clients, with services available for the top two cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). Future plans include extending the solution to liquidity provision and other key services to both traditional exchange clients and new markets, Cohen noted.

“In the short term we want to continue to bring in great people to help us build this business,” the Nasdaq EVP said in reference to the company’s long term and short term outlook for digital assets. He added:

“We want to complete the build-out of our custody and liquidity solution. We are going to continue to work with the New York DFS to obtain that Trust license and will also engage potential clients as we head towards launch.”

Nasdaq is launching its Digital Assets division at a time when some of Wall Street’s largest companies are looking to provide more access to crypto to their clients.

Just recently, investment giant BlackRock announced a partnership with Coinbase to bring Bitcoin trading to its clients. And as we reported last week, Fidelity, Charles Schwab and Citadel Securities are among several Wall Street firms to launch a new crypto exchange dubbed EDX Markets.

As for its crypto custodian venture, Nasdaq Digital Assets will compete with financial companies such as State Street and BNY Mellon. In crypto, Anchorage Digital, Coinbase, and BitGo are some of the well-established custody providers.

The post Nasdaq to offer crypto custody via new Digital Assets unit appeared first on Invezz.

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Nasdaq reportedly preparing crypto custody services for institutions

The firm has reportedly created a new group focusing on digital assets and onboarded Ira Auerbach, who previously worked at Gemini, to lead the unit.

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Fidelity Investments Unveils Plans to Expand Business by Hiring Crypto Savvy Staff

Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, is set to onboard additional hands as it prepares for the growing demand in the digital assets ecosystem. (Read More)

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German Commerzbank Requests BaFin License for Crypto Custody 

Commerzbank applied for a crypto custody license to the Federal Financial Supervisory Authority known as BaFin.

Continue reading German Commerzbank Requests BaFin License for Crypto Custody  at DailyCoin.com.

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German banking giant Commerzbank applies for crypto license

A spokesperson for Commerzbank confirmed to local media that it applied for the license with BaFin earlier this year in a first for a major bank in Germany.

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State Street Partners with Copper.co to Offer Crypto Custody Services to Customers

The partnership will continue to help State Street bank to provide digital and crypto asset services for its clients. (Read More)

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Short-term custodial crypto accounts soar 250% with Bitcoin ETF hype

The total assets under custodial accounts increased by 250% during the past four months amid the hype surrounding the spot Bitcoin exchange-traded fund (ETF), according to a Bitget report shared with CryptoSlate. What spurred the growth? Bitget attributed the surge to the broader crypto market performance and the escalating anticipation of a bull run among […]

The post Short-term custodial crypto accounts soar 250% with Bitcoin ETF hype appeared first on CryptoSlate.

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Major Banking and Financial Associations Urge SEC to Amend SAB 121 for Digital Asset Custody

The Bank Policy Institute, American Bankers Association, Financial Services Forum, and SIFMA have requested modifications to Staff Accounting Bulletin No. 121 to address challenges in digital asset custody for US banking organizations. The aim is to align provisions with recent policy developments and practical experience. (Read More)

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Ripple and Metaco Join Forces to Conquer Crypto Custody Market

Ripple's acquisition of Metaco expands its enterprise offerings, accelerating growth and providing secure digital asset solutions.

Continue reading at DailyCoin.

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Ripple Acquires Crypto Custody Firm Metaco In $250 Million Deal

US-based cryptocurrency company Ripple has recently announced its acquisition of Metaco. Metaco is a Swiss-based crypto custody firm and the deal, valued at $250 million, marks Ripple’s foray into the acquisition space. Metaco specializes in developing cutting-edge technology that enables financial institutions to securely store and effectively manage digital assets. Some of its notable clients comprise Citi, BNP Paribas, and the digital asset arm of Societe Generale. Related Reading: Polkadot Latest Update Fuels Anticipation Of Higher Price For DOT After the acquisition, Ripple will become the exclusive shareholder of Metaco. It will, however, allow the company to retain its independent brand identity and continue its operations uninterrupted. Nevertheless, this acquisition holds significant importance for Ripple. Its own cryptocurrency, XRP, currently ranks as the sixth largest in the world based on market capitalization. Ripple expressed that this acquisition will serve as a catalyst for expanding its institutional offering. Additionally, this will also strengthen its position in the cryptocurrency market. By integrating Metaco’s expertise and technology, Ripple aims to enhance its capabilities in providing secure storage and management solutions for digital assets. Investor Caution Has Been Growing Regarding Crypto Asset Storage Following a decline in cryptocurrency prices in 2022 along with notable collapses of major crypto firms like the U.S. exchange FTX, investor enthusiasm for crypto assets has waned. A critical factor contributing to this shift in sentiment is the growing alertness among investors regarding the storage of crypto assets. Several crypto platforms had frozen their withdrawals resulting in significant losses for investors. This has prompted them to choose and prioritize secure storage solutions to store their digital assets. Anticipating a surge in demand from institutional investors, Ripple CEO Brad Garlinghouse expressed his expectation for an upswing in the need for crypto custody services. He also stated: By focusing on the infrastructure … you’re not really subject to the same gyrations of the crypto winters. If ultimately you’re solving a clear problem at scale for these customers, there’s going to be demand there. Amidst the intensifying enforcement actions by US regulators against crypto firms, CEO Brad Garlinghouse highlighted the added appeal of Metaco, being based in Switzerland and having a workforce comprised of non-US employees. Garlinghouse emphasized that the regulatory landscape in markets outside the United States offers greater and better clarity. This enables companies to make sound and informed investments. Related Reading: Decentraland (MANA) Leads Crypto Market Gains, Here’s Why He noted that these transparent and well-defined rules in other jurisdictions have been responsible for creating an environment conducive to business growth and innovation. Following its recent private financing round, Ripple was valued at $15 billion even though the company had encountered a significant level of regulatory ambiguity. The uncertainty escalated when the Securities and Exchange Commission (SEC) filed a lawsuit against the company and two of its executives, alleging the sale of unregistered securities. This legal action has further added to the regulatory challenges faced by the crypto giant. Featured Image From, Charts From TradingView.com

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Crypto.com launches crypto custody trust service for US and Canadian institutions

The crypto custody service will be available to eligible Canadian and US institutions and high-net-worth clients The launch of the trust company is Crypto.com’s latest step in building their presence in Canada and the US Crypto.com has launched a crypto custody service designed to help build its presence in Canada and the US. According to […]

The post Crypto.com launches crypto custody trust service for US and Canadian institutions appeared first on CoinJournal.

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Casa unveils Praetorian self-custody service for nation-states

Bitcoin policy advocate Dennis Porter recently said he expects states to establish Bitcoin reserves before the federal government.

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Komainu targets Singapore custodian Propine for first acquisition

The acquisition of its competitor will net Komainu a Singapore Capital Markets Services License and hope for a Major Payment Institution license in the future.

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