As a part of its trading and custody services, Capital Union offers a vast array of digital assets
As part of its trading desk, the financial institution now offers crypto trading and custody services to its professional customers, as per sources.
The spokesman highlighted that Capital Union's crypto-related services still constitute a "pretty tiny fraction" of the company, which is primarily focused on conventional wealth management and financial services.
He did not specify which cryptocurrencies are supported on Capital Union's platform or when they were introduced:
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
Capital Union was founded in 2013 and handled $1 billion in assets by the end of 2020. In April 2022, the bank teamed with Chainalysis to facilitate the secure and compliant deployment of its cryptocurrency capabilities, like as trading and custody. According to a representative for the bank, the Bahamas was one of the first countries in 2020 to implement a regulatory framework known as the DARE Act.
Capital Union's spokesman said,
As a locally licenced bank, this permits us to provide crypto-related services to our customers, who include financial institutions, financial intermediaries, and professional investors.