Capital Union is constantly exploring the crypto ecosystem in collaboration with "various trading venues and liquidity providers and a handful of custodians and technology providers."
Bahamas-based independent banking institution Capital Union has recently launched new cryptocurrency trading and custody services to all of its users.
The firm implied that it has been closely working with various trading venues, liquidity providers, and technology suppliers “to support a large variety of digital assets as part of our trading and custody services.”
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In fact, one of Capital Union’s representatives suggested that the crypto-related services are currently a relatively modest component of its company that aims to deliver the traditional wealth management and financial services.
On top of that, as of now, it is not clear which cryptocurrencies are offered by Capital Union. The representative added:
“We do not have a directional view on crypto markets or on any specific coins but as a forward looking financial institution have chosen to enable our professional clients to trade in this new asset class should they desire to do so.”
On another note, according to a statement released on May 30, Tether supposedly has stored some of its reserves at Capital Union. This information is not yet validated, since the bank's spokesperson has not refuted nor confirmed it. The banking institution added:
“The only information we make publicly available about our company is contained in the annual report.”
The bank is also known for its active participation in supporting the development of blockchain technology’s transactional capabilities. Thus, Capital Union hopes that this will be a substantial change for the banking industry in the future.
“As a locally regulated bank, this allows us to offer crypto-related services to our clients, which are financial institutions, financial intermediaries and professional investors.”
Capital Union Bank Ltd, founded in 2014, is an independent private banking institution, located in the Bahamas. The organization offers a vast range of private banking and portfolio management services.
In other news, Panama-based Towerbank announced that it would start accepting Bitcoin (BTC). Similarly, New York-based BNY Mellon said that it will allow institutional clients to store digital assets such as Bitcoin (BTC) and Ethereum (BTC).
