The fifth-largest retail bank in America, U.S. Bank, has announced its cryptocurrency custody service is now available to fund managers. The offering will help investment managers store private keys for bitcoin, bitcoin cash, and litecoin with assistance from NYDIG.

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has said the U.S. won’t follow China’s footsteps in banning cryptocurrencies, and instead noted the government is focused on ensuring the industry adheres to investor and consumer protection rules.

Decentralized finance wallet and browser extension MetaMask has partnered with three cryptocurrency custodians as

Sponsored: Inflation Hedging Coin (IHC) is a cross-chain cryptocurrency, running on BSC and ETH networks. It is one of the very few projects that managed to raise $10 million in just under 30 seconds! 

Top stories in the Crypto Roundup today:

• Fifth-Largest Bank in U.S. Launches Crypto Custody Service
• SEC Chairman Says U.S. Won’t Ban Cryptocurrencies
• MetaMask Announces Partnerships With Crypto Custodians to Attract Institutions
• How Many Bitcoins Are There?
• Sponsored: IHCoin.io (Inflation Hedging Coin) Raised $10 Million Under 30 Seconds

Fifth-Largest Bank in U.S. Launches Crypto Custody Service

The fifth-largest retail bank in America, U.S. Bank, has announced its cryptocurrency custody service is now available to fund managers. The offering will help investment managers store private keys for bitcoin, bitcoin cash, and litecoin with assistance from NYDIG.

According to Gunjan Kedia, vice-chair of the bank’s wealth management and investment services division, support for other cryptoassets like ethereum is expected over time. The move sees U.S. Bank join the likes of Bank of New York Mellon, State Street and Northern Trust in offering cryptocurrency custody services.

In an interview, Kedia was quoted saying:

“Our clients are getting very serious about the potential of cryptocurrency as a diversified asset class. I don’t believe there’s a single asset manager that isn’t thinking about it right now.”

U.S. Bank was founded during the Civil War in 1863 and has over $8.6 trillion in assets under custody and administration.

SEC Chairman Says U.S. Won’t Ban Cryptocurrencies

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has said the U.S. won’t follow China’s footsteps in banning cryptocurrencies, and instead noted the government is focused on ensuring the industry adheres to investor and consumer protection rules.

Gensler’s comments came at a House hearing after a Republican lawmaker asked if a China-like ban on cryptocurrencies was a possibility in the United States. Gensler answered the country has a “quite different” approach, and that any ban would have to be legislated by Congress.

The SEC Chair’s remarks mirror those of Federal Reserve Chairman Jerome Powell, who late last month said the central bank has “no intention to ban” cryptoassets.

MetaMask Announces Partnerships With Crypto Custodians to Attract Institutions

Decentralized finance wallet and browser extension MetaMask has partnered with three cryptocurrency custodians as part of its effort to attract institutional investors to the cryptocurrency space.

The company announced partnerships with BitGo, Qredo, and Cactus Custody centered around a new product offering that gives institutional investors access to the DeFi space called MetaMask Institutional.

The developer behind MetaMask, Consensys, has clarified the biggest difference between MetaMask Institutional and the company’s main product is how private keys are stored and built-in compliance functionalities.

How Many Bitcoins Are There?

Bitcoin (BTC) is a radical alternative to fiat currencies like the U.S. dollar and the euro. It differs from them in several ways, one of them being its limited supply, which is capped at 21 million BTC. New bitcoins are generated at a fixed rate every year to ensure a predictable inflation rate.

Read out guide the topic, in which we look at Bitcoin’s supply limit, why the cryptocurrency’s supply is limited, and what that means for users on the network.

Hopefully, by the end of it you will have a better understanding of Bitcoin and why so many people support it. First, it’s important to understand a few basic concepts of the network.

IHCoin.io (Inflation Hedging Coin) Raised $10 Million Under 30 Seconds

Inflation Hedging Coin (IHC) is a cross-chain cryptocurrency, running on BSC and ETH networks. It is one of the very few projects that managed to raise $10 million in just under 30 seconds! 

IHC actively mitigates inflation through regular burning of coins against the U.S. inflation rate. This is done in a bid of storing value and will continue until the total market capitalization equals the number of tokens that the total number of holders possess. 

On each transaction a 5% fee is accumulated and redistributed to token holders to incentivize saving instead of speculating in other activities. The team behind IHC do not receive their share of the transaction fees. 

To improve functionality, an on-chain wallet application is being developed. The wallet application will include lending and yield farming services to ensure saving, for example, is easier for users on-chain.

The IHCoin Team

The IHC Team is made up of experts from various fields and includes blockchain developers, entrepreneurs, and other specialists with over 20 years of combined experience in global financial markets. Its advisors have experience in various sectors and have run operations from Wall Street to Ulaanbaatar.

The project’s CEO Gantig Bayarmagnai is founder of Bit LLC and the Cryptocurrency Mongolia Group. He also co-founded Silkchain Capital, a country representative of VeChain in Mongolia.

Global transition to cryptocurrency through boxing

To bolster cryptocurrency adoption throughout the world, IHC is joining forces with former heavyweight world boxing champion Deontay “The Bronze Bomber” Wilder for the WBC World Heavyweight Championship in Las Vegas, in October 9.

Deontay’s fight against Tyson Fury will see the fight appear in IHC sponsored fight trunks as part of the company’s mission to accelerate the global transition to cryptocurrencies. 

IHC's Growing Liquidity

IHC coin is currently available on ApeSwap and PancakeSwap. As part of the company's roadmap, the token is planned to be listed on two centralized exchanges, which should take place in late October. All listing news will be announced to the community on the available communication channels and social media platforms. For more information, please visit the IHCoin website.

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