- Custodia Bank has announced obtaining regulatory approval for its Bitcoin custody platform. The Bitcoin custody service is now active, offering segregated (non-omnibus) custody accounts.
- As the community awaits Custodia Bank’s spot Bitcoin ETF approval, they extend their congratulations to Caitlin Long for the launch of the Bitcoin custody platform.
- Custodia Bank has taken a historic step in activating its Bitcoin custody service by receiving regulatory approval from the Wyoming Department of Banking.
Custodia Bank, formed by Bitcoin supporters, started to offer Bitcoin custody services after receiving approval in the US state.
Custodia Takes Steps to Launch Bitcoin Services
Custodia Bank has declared that it received regulatory approval for its Bitcoin custody platform. The Bitcoin custody service is now active, providing segregated (non-omnibus) custody accounts. The Wyoming Banking Department recently granted Custodia Bank permission to offer Bitcoin custody services.
Custodia Bank stated in an X post dated November 7 that the Bitcoin custody platform is now active. The Bitcoin custody service is specially designed for businesses, including fiduciaries, investment advisors, fund managers, and corporate treasuries.
“Custodia is a BANK built by BITCOIN enthusiasts, offering private (non-omnibus) custody accounts.”
Custodia Bank CEO and founder Caitlin Long shared this exciting news with the crypto community. As they eagerly await Custodia Bank’s spot Bitcoin ETF approval, they congratulate Caitlin Long for launching the Bitcoin custody platform.
The Bitcoin custody service is currently available in the United States, and Custodia Bank has previously expressed intentions to expand its services. Custodia Bank, a non-lending bank, offers integrated Bitcoin custody and U.S. dollar services, which are not FDIC insured.
By obtaining regulatory approval from the Wyoming Banking Department for the Bitcoin custody service, this marks a significant milestone. The crypto-friendly bank expresses gratitude to the community for its support and thanks users for helping improve their services through feedback.
Caitlin Long’s Fight for Bitcoin
The Federal Reserve Board in the United States rejected Custodia Bank’s merger request with the Fed system due to its Bitcoin-focused approach and lack of FDIC-insured deposits. Despite the Federal Reserve’s move significantly impeding the bank’s business model, Caitlin Long’s bank announced in August that it had resumed operations. The approval of the Bitcoin custody service represents another step closer to gaining Fed acceptance in the crypto space.
