Legal

NYDFS Grants Crypto Custody Service License To ‘Standard Custody’.

The NYDFS [New York Department of Financial Services] has granted Standard Custody a trusted charter, permitting it to offer custody services for digital assets in New York.

Within an official announcement, NYDFS today revealed, allowing the custody provider to offer cryptocurrency custody services. Standard Custody is the 30th such entity to receive approval through the financial regulator, known for having the foremost advanced cryptocurrency regulatory framework within the United States.

“Our N.Y. charter will enable us to assist institutional clients to take full advantage of the digital assets ecosystem in a highly secure, compliant, and innovative way,” Standard Custody CEO Jack McDonald added within an official statement.

Crypto custody is usually the gateway for Wall Street involvement in digital assets.

Standard Custody is a subsidiary of California-based PolySign, consistent with its Twitter biography. In turn, PolySign has been working to create up its crypto custodian aspect since the starting of 2018.

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