State Street, a U.S. custody bank that oversees roughly $40 trillion in assets, has launched a cryptocurrency division called State Street Digital. The new branch of this bank will be led by executive vice president Nadine Chakar, who will report to Lou Maiuri, the current COO of State Street.
The Basel Committee for Banking Supervision published a consultation on Thursday that proposed strict capital requirements be put in place for banks that have exposure to Bitcoin and other cryptocurrencies. The release comes at a time when many banks around the world are looking to pursue custodial services in response to growing demand from their clients.
Atlanta based Invesco, an investment management firm with $1.5 trillion in assets, is the latest firm to enter the cryptocurrency space with a plan to launch two crypto-focused exchange-traded funds (ETFs).
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Top stories in the Crypto Roundup today:
- State Street Bank Launches Cryptocurrency Division
- The Basel Committee Proposes Strict Capital Requirements for Banks With Bitcoin Exposure
- Invesco Plans Two Crypto-Linked ETFs Despite Regulatory Delays
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