Custody

State Street said it will deliver tokenised fund servicing from Luxembourg by the end of 2026, extending administration, custody and transfer agency to digitally native funds and bringing the world's second-largest custodian into direct competition with BNY Mellon and JPMorgan on-chain.

House Bill 798, signed on 14 April, requires crypto custodians to transfer abandoned digital assets to the state in-kind rather than liquidating them — and bars the treasury from selling for at least a year.

Kraken Financial became the first digital asset bank to receive a Federal Reserve master account from the Kansas City Fed, granting direct access to Fedwire.

Fidelity has launched Fidelity Digital Asset Services, offering cryptocurrency custody and trade execution services exclusively to institutional investors.