The scene of the American crypto is booming with the return of President Donald Trump, because his pro-Crypto position and the pressure for clear regulations arouse excitement to Wall Street.
In a recent update, the journalist of Crypto Yueqi Yang shared information on the growing involvement of American banks in the crypto services sector. In particular, some large banks take advantage of regulatory changes under President Trump to enter the market, emphasizing the cryptocurrency care.
Citigroup plans to add police custody, according to sources cited by information. This decision follows the announcement by the bank of a project of proof of a successful concept, which has shown its ability to issue and store token capital funds on a blockchain network.
Citigroup joins the main financial players
In particular, Citigroup, with 2.4 billions of dollars in assets, joined other important financial institutions in the growing space of guard of digital assets.
BNY Mellon is expanding on guard beyond Bitcoin and Ethereum ETHERE, while Standard Charterd has deployed a digital asset service in Dubai. HSBC provides for an institutional guard offer and Crédit Agricole and the joint venture of Banco Santander obtained approval from the Cryptography Guard in France.
Meanwhile, State Street, managing 44.3 billions of dollars, has teamed up with Taurus to offer police custody and token for institutional investors.
While Coinbase is in talks with the banks to offer childcare and trading services, many banks are still waiting for the approval of the Federal Reserve and the New York Financial Services Department, which delays their entry into cryptographic trade, noted the news journalist Yueqi Yang.
More Eye Banks cryptography services
Jerome Powell, the president of the federal reserve, said that American banks with appropriate risk controls could serve cryptographic customers. However, many members of the industry are concerned about the debanking linked to new technology. Recently, Powell promised to work with the congress to end this question.
At the same time, more banks are considering crypto services. In January, the electronic commerce supported by Morgan Stanley referred to the supply of cryptography services, while Goldman Sachs said he would consider digital asset operations if the regulations were authorized.