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Conventional banks provide digital asset custody amid compliance laws By Cointelegraph

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Conventional banks provide digital asset custody amid compliance laws

An increasing number of conventional banks have began saying help for digital belongings as the value of (BTC) continues to make headlines for record-breaking all-time highs. Even main banks like JPMorgan Chase (NYSE:), which beforehand frowned upon Bitcoin, have taken a newfound curiosity within the cryptocurrency. Opposite to what Goldman Sachs (NYSE:) acknowledged just lately, JPMorgan’s strategists have famous that “the value of gold would endure from a structural circulate headwind over the approaching years” resulting from Bitcoin’s development.

Whereas JPMorgan Chase is clearly taking a softer stance on Bitcoin, some main banks are going a step additional by providing shoppers custody companies for digital belongings. For instance, FV Financial institution, a Puerto Rico-based digital financial institution, introduced on Dec. 21 that it obtained permission from the Puerto Rico Workplace of the Commissioner of Monetary Establishments to offer custody companies for all main cryptocurrencies, together with Bitcoin and Ether (ETH), together with help for ERC-20 tokens.

Banks betting huge on crypto?

Compliance turns into extra vital than ever earlier than

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