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Bitcoin

<p class="is-style-lead">Custodia Bank founder and Bitcoin advocate Caitlin Long took to the X platform on Nov. 7 to announce the launch of its Bitcoin custody platform.</p> 
<p>According to the announcement, the custody service is said to be designed for businesses such as fiduciaries, investment advisers, fund managers and corporate treasurers.</p> 
<h2 class="wp-block-heading" id="in-house-development">In-house development</h2> 
<p>As a non-lending bank, Custodia is introducing an integrated solution that combines Bitcoin custody and U.S. dollar services, although not FDIC-insured, within a single platform.&nbsp;</p> 
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   <p lang="en" dir="ltr">1/ BIG NEWS!! Custodia’s <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#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're different: <a href="https://t.co/O6lgaWdSxK" target="_blank">https://t.co/O6lgaWdSxK</a></p>— Custodia Bank ™ (@custodiabank) <a href="https://twitter.com/custodiabank/status/1721861898482651304?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 7, 2023</a>
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<p>The approach is said to streamline user operations and minimize associated risks. It has already received regulatory approval from the Wyoming Division of Banking to launch its Bitcoin custody service, signaling the bank’s ability to provide secure and compliant services.</p> 
<p> You might also like: <a href="https://crypto.news/bitgo-launches-enterprise-bitcoin-custody-switzerland-germany/"> BitGo Launches Enterprise-Grade Bitcoin Custody in Switzerland and Germany </a> </p> 
<p>Custodia Bank also reminds the community that since the platform was developed in-house, it welcomes the community to provide user feedback on the new offering.</p> 
<h2 class="wp-block-heading" id="the-losing-suit">The losing suit</h2> 
<p>In February of this year,&nbsp;<a target="_blank" href="https://www.forbes.com/sites/rosemariemiller/2023/02/20/custodia-amps-up-suit-against-fed-crypto-firm-says-central-bank-breaking-law/?sh=8b160722a49c" rel="noreferrer noopener">Custodia Bank</a>&nbsp;had alleged the Federal Reserve Board had taken actions that were “patently unlawful.” These actions, according to Custodia Bank, are expected to hinder the company’s ability to offer financial services to the digital-assets industry.&nbsp;</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="Why Custodia Bank Is Suing the Federal Reserve" width="1020" height="574" src="https://www.youtube.com/embed/mKExv3FaxYc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>This development occurs within the context of an increasingly rigorous government stance on the cryptocurrency sector in the same time period.</p> 
<p> Read more: <a href="https://crypto.news/bakkt-bitcoin-custody-institutions/"> Bakkt Bitcoin Custody Services now Available to all Institutions </a> </p>

Custodia Bank announces Bitcoin custody platform launch

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