They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks.
A co-founder of a cryptocurrency firm was sentenced to a year in prison after pleading guilty to tricking investors out of more than $25 million in an investment scam promoted with the help of celebrities including Floyd Mayweather and the musician DJ Khaled.
Sells, American Banker's Digital Banker of the Year for 2020, says he will help the New York fintech startup create digital currency products for banks.
National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job.
In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks.
Employees in the financial industry and public sector are considerably more worried about the risks posed by digital currency than those in the cryptocurrency field, a new survey finds.
