The price of Bitcoin was less than $200 when U.S. Bank’s Blockchain and Cryptocurrency Practice was established in 2015. Today the price is over $54,000. As this market continues to grow, the cross-functional team of digital, technology and product experts across the bank supports our crypto/blockchain strategy and has been testing, planning and making moves behind the scenes in support of this disruptive technology to ultimately support our clients’ needs surrounding emerging digital assets. Today, we are announcing three initiatives in this dynamic practice:
“I am proud of how we came together from all areas of bank and brought forward our best thinking across our digital capabilities, product development, and technology to drive innovation in our Blockchain and Cryptocurrency practice,” said Christine Waldron, chief strategy officer for U.S. Bank Global Fund Services. “We’ve been active in this space for years – ensuring we are always best situated to serve our institutional clients – and these latest initiatives demonstrate our ongoing commitment and enthusiasm to grow this market.”
Recent acceleration of investor interest, market adoption, and regulatory guidance opens new opportunities for banks to “continue satisfying their customers' needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency. And, we’re taking an approach that ensures proper risk management and controls are in place to effectively offer these types of products in a safe and secure way.”
As part of U.S. Bank’s efforts in this space, cryptocurrency will be a focus of our Investment Services Consultant Day being held May 7. Members of the U.S. Bank Blockchain and Cryptocurrency Practice will be featured on a panel to discuss key topics, trends and issues.
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