Bitcoin

The hospitality chain and its fintech partner Bakkt are trying to tap into the crypto craze by asking guests if they would prefer the valuable (yet volatile) cryptocurrency over free stays or room upgrades.

About 100 small banks have signed up for technology provided by the core software vendor Fiserv and the cryptocurrency custodian NYDIG that allows customers to buy, sell and hold bitcoin through their bank accounts.

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The Basel Committee on Banking Supervision issued a proposal this month laying out how banks should treat cryptocurrencies held on their balance sheets. It could give stablecoins, which are tied to traditional assets, an edge over more volatile digital assets like Bitcoin.

Building a safer ecosystem: Why transparency, controls, and partnerships will drive next era of financial services.

Banks have watched with alarm as customers' deposits have flowed into cryptocurrency wallets. They are now working with their software vendors to build the infrastructure that's needed to offer digital currency services of their own.

The Boston trust bank has set up a division called State Street Digital, led by Nadine Chakar, that will help customers invest in cryptocurrencies. It will also develop blockchain and smart contract technology and the ability to tokenize assets.

Square Inc. Chief Executive Jack Dorsey said the digital payments company is considering building a Bitcoin hardware wallet, a device that holds the digital currency but isn’t connected to the internet.

Unchained Capital, a Bitcoin-based custody-service provider and lender, has raised $25 million in funding, valuing the company at $125 million.

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