Digital Asset Holdings in U.S. Bank’s Books Raises Eyes of Federal Insurance Deposit Corporation

Crypto currencies are becoming more common on the blanace sheet of banks in the U.S. which eventually might trigger instituational failure and Federal Insurance Deposit Corporation (FDIC) will need to step in to clean things up

Cue Anchorage, a digital assets custodian, and the first crypto startup to receive a trust charter from the Office of the Comptroller of Currency. According to documents obtained by filing a Freedom of Information Act (FOIA) request, the bank is in the final stages of bidding for a contract with the FDIC to act as a crypto asset management and solution provider, as reported by Coindesk.

CoinDesk reported it had requested to sought all crypto custodian-related records from the federal agency.

Anchorage is the only company mentioned in the documents, implying no other company is in the running to provide storage and disposal services for the FDIC, Coindesk reported.