{"id":10726,"date":"2023-11-07T17:47:04","date_gmt":"2023-11-07T17:47:04","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/custodia-bank-launches-bitcoin-custody-service-for-businesses\/"},"modified":"2023-11-07T17:47:05","modified_gmt":"2023-11-07T17:47:05","slug":"custodia-bank-launches-bitcoin-custody-service-for-businesses","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10726","title":{"rendered":"Custodia Bank Launches Bitcoin Custody Service for Businesses"},"content":{"rendered":"<div>\n<figure id=\"attachment_127879\" aria-describedby=\"caption-attachment-127879\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127879\" class=\"wp-caption-text\">Source: Pexels<\/figcaption><\/figure>\n<p>Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S. states.<\/p>\n<p>On November 7, Custodia Bank, formerly known as Avanti Financial Group, announced on X (formerly Twitter) that they have now launched a dedicated platform to cater to Bitcoin custody services aimed at businesses such as fiduciaries, investment advisers, fund managers, and corporate treasurers.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ BIG NEWS!! Custodia\u2019s <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> custody platform recently went live. Custodia is a *BANK* built by Bitcoiners &amp; we offer segregated (not omnibus) custody accounts on our custom-built Bitcoin custody platform. Our whitepaper describes how we&#8217;re different: https:\/\/t.co\/O6lgaWdSxK<\/p>\n<p>\u2014 Custodia Bank \u2122 (@custodiabank) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/custodiabank\/status\/1721861898482651304?ref_src=twsrc%5Etfw\">November 7, 2023<\/a><\/p>\n<\/blockquote>\n<p>Founded in 2020 by Caitlin Long, a former managing director at Morgan Stanley, Custodia Bank is based in Cheyenne, Wyoming, with a mission to facilitate digital assets\u2019 integration with the U.S. dollar payments system and provide digital asset custodial services.<\/p>\n<p>In August, the bank announced plans to accept dollar deposits with a focus on serving U.S. business customers. It also hinted at the forthcoming launch of its Bitcoin custody services. As of now, Custodia Bank has received regulatory clearance from the Wyoming Division of Banking to provide Bitcoin custody services. The platform offers segregated custody accounts through its custom-built Bitcoin custody platform, combining Bitcoin custody with U.S. dollar services in a single, user-friendly platform with the aim of simplifying operations and minimizing risks.<\/p>\n<p>The bank\u2019s special-purpose depository institution charter under Wyoming\u2019s crypto-friendly laws passed in 2019 positions Custodia Bank as one of the pioneering institutions to receive this status. Operating as a non-lending institution, Custodia Bank\u2019s primary focus is Bitcoin custody.<\/p>\n<p>As a part of its commitment to user satisfaction and platform improvement, Custodia Bank expressed gratitude to those who provided valuable feedback during the development of its Bitcoin custody platform.<\/p>\n<p>\u201cSince we built our Bitcoin custody platform in-house, we\u2019re especially grateful to those willing to help us by providing user feedback.\u201d<\/p>\n<h2><b>Custodia Bank Launches Amid Regulatory Scrutiny and Legal Battle with Federal Reserve<\/b><\/h2>\n<p><span class=\"replacer\"><\/span><br \/>The official launch of Custodia Bank in 2020 occurs at a time when the cryptocurrency industry is under increased scrutiny and regulatory pressure following high-profile scandals in the digital asset sector. The bank emphasizes its \u201cregional bank-style\u201d risk management program and its commitment to becoming a regulated bank despite the challenges.<\/p>\n<p>Custodia is also pursuing a lawsuit against the Federal Reserve and the Federal Reserve Bank of Kansas City over the \u201cunlawful delay\u201d of its request to join the central bank\u2019s payments system, which it considers vital for its effective operation.<\/p>\n<p>The Federal Reserve had rejected Custodia\u2019s application, citing significant safety and soundness concerns, and the Kansas City Fed followed suit by rejecting the bank\u2019s request for a Fed master account.<\/p>\n<p>In a comprehensive report issued in March 2023, the Federal Reserve\u2019s board explained that its decision to reject Custodia\u2019s application was driven by concerns regarding banks being heavily involved in crypto-related activities.<\/p>\n<p>Despite Custodia Bank\u2019s reported commencement of business operations in August 2023, the Federal Reserve has hindered many aspects of its proposed business model.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/custodia-bank-launches-bitcoin-custody-service-for-businesses.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":10727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-10726","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Custodia Bank Launches Bitcoin Custody Service for Businesses | inFundPros<\/title>\n<meta name=\"description\" content=\"Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=10726\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Custodia Bank Launches Bitcoin Custody Service for Businesses | inFundPros\" \/>\n<meta property=\"og:description\" content=\"Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=10726\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-07T17:47:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-07T17:47:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1699348636-ordinals.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=10726#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=10726\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Custodia Bank Launches Bitcoin Custody Service for Businesses\",\"datePublished\":\"2023-11-07T17:47:04+00:00\",\"dateModified\":\"2023-11-07T17:47:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=10726\"},\"wordCount\":551,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=10726#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=10726\",\"url\":\"https:\/\/infundpros.com\/?p=10726\",\"name\":\"Custodia Bank Launches Bitcoin Custody Service for Businesses | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-07T17:47:04+00:00\",\"dateModified\":\"2023-11-07T17:47:05+00:00\",\"description\":\"Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S.\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=10726#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=10726\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=10726#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Custodia Bank Launches Bitcoin Custody Service for Businesses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Custodia Bank Launches Bitcoin Custody Service for Businesses | inFundPros","description":"Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=10726","og_locale":"en_US","og_type":"article","og_title":"Custodia Bank Launches Bitcoin Custody Service for Businesses | inFundPros","og_description":"Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S.","og_url":"https:\/\/infundpros.com\/?p=10726","og_site_name":"inFundPros","article_published_time":"2023-11-07T17:47:04+00:00","article_modified_time":"2023-11-07T17:47:05+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1699348636-ordinals.jpg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=10726#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=10726"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Custodia Bank Launches Bitcoin Custody Service for Businesses","datePublished":"2023-11-07T17:47:04+00:00","dateModified":"2023-11-07T17:47:05+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=10726"},"wordCount":551,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=10726#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=10726","url":"https:\/\/infundpros.com\/?p=10726","name":"Custodia Bank Launches Bitcoin Custody Service for Businesses | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-07T17:47:04+00:00","dateModified":"2023-11-07T17:47:05+00:00","description":"Source: Pexels Custodia Bank, a crypto-friendly bank, announced that it has officially launched its Bitcoin custody platform to customers in select U.S.","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=10726#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=10726"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=10726#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Custodia Bank Launches Bitcoin Custody Service for Businesses"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10726"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10726\/revisions"}],"predecessor-version":[{"id":10728,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/10726\/revisions\/10728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/10727"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}