Category: Custody

State Street stands up new crypto unit as it eyes potential custody, DeFi products

State Street stands up new crypto unit as it eyes potential custody, DeFi products

State Street wants to send a message to Wall Street: the custodial banking firm is serious about digital assets.  To that end, it’s built up an entirely new business unit dedicated to digital assets, tokenization, and cryptocurrency assets. Announced Thursday, the new unit — dubbed State Street Digital — will be led by Nadine Chakar, […]

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Alan Howard leads $25 million investment in London crypto custodian Copper

Alan Howard leads $25 million investment in London crypto custodian Copper

British billionaire fund manager Alan Howard has led a $25 million investment in the London-based crypto custodian Copper. The raise is an extension of Copper’s $50 million Series B raise, led by venture capital firms Dawn Capital and Target Global, which closed in May. Howard, who set up and, until 2019, was CEO of the […]

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Texas greenlights state-chartered banks to custody crypto

Texas greenlights state-chartered banks to custody crypto

In a June 10 notice, the Texas Department of Banking gave state-chartered banks the go-ahead to custody crypto assets.  The notice is a simple affirmation that standard risk-based assessments by the banks themselves are adequate to provide cryptocurrency custody. The Department of Banking wrote:  “What virtual currency custody services a bank chooses to offer will […]

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Crypto hardware wallet maker Ledger lands $380 million Series C raise led by 10T Fund

Crypto hardware wallet maker Ledger lands $380 million Series C raise led by 10T Fund

Ledger, the Paris-based producer of crypto hardware wallets, has closed a $380 million Series C fundraise valuing the startup at more than $1.5 billion. 10T Fund, a digital assets fund founded by renowned macro investor Dan Tapiero, led the raise. Tapiero’s $200 million fund was set up earlier this year. 10T Fund invested alongside existing […]

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Gemini acquires crypto custody startup Shard X

Gemini acquires crypto custody startup Shard X

Crypto exchange and custodian Gemini has acquired crypto custody startup Shard X for an undisclosed sum. Announcing the news on Wednesday, Gemini said Shard X’s multi-party computation (MPC) technology would help increase the speed at which it can transfer customer assets and increase usage of assets on its platform. “Integrating Shard X’s MPC technology into […]

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Nebraska bill creating bank framework for digital asset firms signed into law

Nebraska bill creating bank framework for digital asset firms signed into law

A Nebraska bill that gives companies two paths to compliantly dealing in digital assets has been signed into law. Governor Pete Ricketts signed the Financial Innovation Act around 5 P.M. last night, according to its sponsor Sen. Michael Flood. The bill passed the state’s unicameral chamber last week in a 46–2 vote.  The Financial Innovation […]

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Ontario regulator accuses Poloniex of ‘disregarding’ securities laws in enforcement action against crypto exchange

Ontario regulator accuses Poloniex of ‘disregarding’ securities laws in enforcement action against crypto exchange

On Tuesday, the Ontario Securities Commission filed a statement of allegations against Poloniex, accusing the crypto exchange of “disregarding Ontario securities law.” Moreover, the terms of the OSC’s enforcement against Poloniex point to broader implications for crypto trading platforms that operate in Canada. Specifically, the enforcement action aims to hold Poloniex “accountable for disregarding Ontario […]

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Standard Custody takes new route to ‘qualified custodian’ status

Standard Custody takes new route to ‘qualified custodian’ status

Standard Custody received its license to operate as a New York state-chartered trust on May 4, and it’s already making a play to gate-crash the institutional custody space. Just days after its licensing, the firm announced the close of a $53 million Series B round for its parent firm, PolySign. Cowen Digital Asset Investment Company […]

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Investment Bank Cowen to Help Institutions Seamlessly Put Cryptocurrencies in Their Portfolios

Investment Bank Cowen to Help Institutions Seamlessly Put Cryptocurrencies in Their Portfolios

Investment bank Cowan, founded in 1918, is launching a cryptocurrency service in partnership with Standard Custody & Trust Co. to help institutional clients “seamlessly secure, access and leverage cryptocurrencies and digital assets in their portfolios.” Cowan’s CEO said: “The demand is clearly here. We’re going to be able to help a lot of our institutional […]

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