Custodia Bank Launches Bitcoin Custody Despite Earlier Fed Rejection
-
Custodia Bank launched a Bitcoin custody platform following regulatory challenges earlier this year.
-
The custody service targets businesses like fiduciaries, advisers, fund managers, and treasurers.
-
Custodia Bank aims to bridge digital assets and the U.S. dollar system as a custodian bank.
-
The Federal Reserve previously rejected Custodia's application to join the Fed system over crypto concentration concerns.
-
Custodia Bank opened in August 2022 but the Fed has blocked much of its proposed business model.