TLDR
Several regulated banks can custody crypto today. BNY Mellon offers custody for Bitcoin and Ether to institutional clients, live since 2022 per a project site report on bank readiness and OCC guidance allowing custody services (BNY Mellon custody).
- BNY Mellon: BTC and ETH custody for select institutions, confirmed by a project site report.
- Anchorage Digital: a federally chartered crypto bank providing qualified custody; recent token custody moves highlight its role (Anchorage Digital custody).
- U.S. regulators permit bank and broker?dealer crypto custody under OCC IL 1170 and updated SEC FAQs, expanding who can offer safekeeping (regulatory permissions).
Deep Dive
1. BNY Mellon
BNY Mellons Digital Asset Custody platform lets institutional clients hold and transfer Bitcoin (BTC) and Ethereum (ETH) under a regulated framework, positioned as an extension of traditional safekeeping rather than retail trading (BNY Mellon custody).
BNY Mellons approach emphasizes risk controls and integration with existing settlement processes, consistent with the OCCs permission for national banks to provide crypto custody services (Interpretive Letter 1170), noted in the same report.
If you need bank?grade safekeeping of BTC or ETH, BNY Mellon is a live, institutional option.
2. Anchorage Digital
Anchorage Digital is the first federally chartered crypto bank offering qualified custody. Foundations and institutions continue to move tokens into Anchorage for institutional?grade safekeeping, as seen in recent announcements of planned custody transfers (Anchorage Digital custody).
As a chartered crypto bank, Anchorage specializes in custody and compliance for digital assets, serving foundations, corporates, and institutional investors.
For a pure crypto?native bank custodian, Anchorage is a prominent, regulated choice.
3. Regulatory Permissions
U.S. rules now explicitly permit bank and broker?dealer custody of crypto under tight controls. The OCCs IL 1170 allows national banks to provide crypto custody services, while the SECs updated FAQs clarify that broker?dealers can establish control via legal arrangements with third?party custodians rather than holding keys directly (regulatory permissions).
Major banks are preparing broader crypto services within these frameworks (for example, execution and brokerage alongside custody), but asset coverage is typically limited to BTC, ETH, and select stablecoins, and offerings remain institutional?focused (bank readiness overview).
Expect more banks and broker?dealers to roll out custody, but with conservative asset lists and institutional onboarding.
Conclusion
Banks can custody crypto under current U.S. guidance. Todays live options include BNY Mellon and Anchorage Digital, with wider bank participation likely to expand under OCC and SEC frameworks. The trade?off is conservative coverage (often BTC and ETH) and institutional focus, but you gain qualified custody, integrated reporting, and tighter risk controls.
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