The other day, Mr. G mentioned to everyone that he would post something to help everyone understand more about how digital currency will become increasingly sustainable and develop thanks to incredibly convenient applications in daily life, not just in transactions. But before he could, today there is GREAT NEWS for coins:
💥 The U.S. Office of the Comptroller of the Currency (OCC) has officially allowed national banks and federal associations to offer digital asset custody services, including BTC and other coins.
💥💥💥 This is a historic decision because:
💥 Previously, only specialized crypto companies like Coinbase Custody, BitGo, etc., were allowed to provide custody services.
Now, large traditional banks such as JPMorgan, BNY Mellon, Citi, Bank of America... can also participate.
💥 Crypto is now more officially recognized in the U.S. financial system.
💥 Strong increase in institutional capital:
Large funds, insurance companies, pension funds... which were previously hesitant due to storage risks, can now store assets at large, safer banks => more likely to invest heavily in Bitcoin, ETH, Altcoins.
💥 Bank-standard custody will ensure insurance, safety, and much better protection against hacks =>=> Lower systemic risk
💥 BTC and crypto prices benefit in the long term:
=>=> The more institutions that get involved, the greater the actual demand => the stronger the underlying value of crypto.
=>=>=> The OCC opening up crypto custody mainstreams the entire market, marking an extremely significant step towards the dream of crypto mass adoption (global crypto accessibility).
💥 Writing this long isn't enough for one post, so in the next post, Mr. G will talk about the applications of crypto in daily life in the near future!
--- Nice day ---