So, you're looking into digital assets and need to figure out who's going to hold onto them for you. It's not like just putting cash in a bank, right? There are a lot of moving parts, and picking the right place to keep your digital stuff safe is super important. This guide is here to break down what you need to know about qualified custodians for digital assets, making the whole process a bit less confusing. We'll cover what they do, why they matter, and what to look for when you're making your choice.
Key Takeaways
- A qualified custodian for digital assets is a trusted entity that securely holds and manages your digital wealth, acting as a safeguard against loss, theft, or mismanagement.
- These custodians are vital for institutional investors and businesses, offering institutional-grade security, regulatory compliance, and asset segregation, which are crucial for fiduciary duties.
- When selecting a custodian, focus on their security measures like cold storage and multi-signature wallets, their adherence to regulatory requirements (KYC/AML), and their overall reputation and track record.
- Understand the different types of custodians, from established financial institutions venturing into digital assets to specialized crypto providers, and consider how their services align with your specific needs.
- Key operational factors include 24/7 monitoring, incident response plans, and regular audits to ensure the ongoing safety and integrity of your digital assets.
Understanding Qualified Custodian Roles in Digital Assets
When we talk about digital assets, like cryptocurrencies or tokenized securities, the idea of who holds them and how they're kept safe becomes super important. This is where a qualified custodian steps in. Think of them as a trusted third party, kind of like a bank for your digital stuff, but with a lot more tech involved.
Defining the Role of a Qualified Custodian
A qualified custodian for digital assets is essentially a financial institution or a specialized company that securely holds and manages digital assets on behalf of its clients. They are responsible for safeguarding the private keys that control these assets. The phrase "not your keys, not your coins" really hits home here; if you don't control the keys, you don't truly control the asset. For individuals, this might seem like a lot of trust to place in someone else, but for institutions managing large sums, it's often a necessity due to regulatory requirements and fiduciary duties.
Key Responsibilities in Digital Asset Safekeeping
The primary job of a qualified custodian is to keep your digital assets safe. This involves a bunch of things:
- Secure Storage: This is the big one. They use advanced security measures to protect the private keys that give access to your digital assets. This often means using cold storage (keeping keys offline) and multi-signature wallets, which require multiple approvals for a transaction.
- Transaction Processing: While safekeeping is key, custodians also facilitate the movement of assets. This includes processing deposits, withdrawals, and other transactions, making sure they are authorized and executed correctly.
- Record Keeping and Reporting: They maintain accurate records of all assets held and transactions processed. Clients usually get regular reports, which are vital for tracking holdings and for compliance purposes.
- Regulatory Compliance: Qualified custodians must adhere to a complex web of regulations. This includes things like Know Your Customer (KYC) and Anti-Money Laundering (AML) rules, which are designed to prevent illicit activities.
The digital asset landscape is still evolving, and with that comes a need for robust security and trust. A qualified custodian aims to provide that by acting as a secure intermediary, bridging the gap between traditional finance expectations and the unique nature of digital assets.
Distinguishing Between Custodial and Non-Custodial Services
It's really important to know the difference between custodial and non-custodial services. With non-custodial services, you, the user, hold your own private keys. This gives you complete control, but it also means you're solely responsible for security. If you lose your keys, you lose your assets, and there's no one to call for help. Think of hardware wallets like Ledger or Trezor for long-term storage, or software wallets like MetaMask for more frequent use.
On the other hand, custodial services mean a third party, the custodian, holds the private keys for you. This is what most exchanges offer, and it's also what qualified custodians do. It's more convenient and shifts the burden of security to the provider. However, it introduces counterparty risk – you're trusting that the custodian won't get hacked, go bankrupt, or mismanage your assets. Established financial institutions acting as custodians often provide a higher level of assurance due to their regulatory oversight and insurance, but it's always wise to check their specific policies and track record.
Evaluating Regulatory Compliance for Digital Asset Custodians
When you're looking at who's going to hold your digital assets, you can't just skip over the rules and regulations. It's not just about keeping things safe; it's about making sure the whole operation is on the up-and-up. Different countries have their own sets of rules, and they're always changing, which can be a real headache. A good custodian needs to know these rules inside and out.
Navigating Global Regulatory Frameworks
Dealing with regulations across different countries is like trying to assemble furniture with instructions in five languages. Each place has its own way of doing things, especially when it comes to digital assets. What's perfectly fine in one country might be a big no-no in another. This means a custodian needs to have a solid grasp of these varying landscapes. They should be able to tell you how they handle things like differing Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements, which can be quite different from one place to another. It's also about understanding capital controls and currency restrictions that might pop up. A custodian that can help you steer through this complex web is worth their weight in digital gold. They're not just holding your assets; they're helping you avoid legal trouble and keep your operations running smoothly across borders. It's about having a partner who understands that regulatory alignment is key to operating and growing globally.
Licensing and Supervision Requirements
So, what makes a custodian legitimate? It often comes down to their licenses and who's watching over them. In many places, custodians need specific licenses to operate, and these licenses come with strings attached – usually meaning they're subject to regular checks and oversight. Think of it like a driver's license; you need it to drive, and you have to follow the rules of the road. For digital assets, this supervision can come from various bodies, like banking agencies, securities commissions, or even state-level supervisors. It's important to know who is supervising your chosen custodian and what standards they have to meet. Some custodians might be supervised by federal banking agencies, while others might fall under state trust company regulations. It's a good idea to check if they've met the necessary standards for custody and safekeeping of digital assets. This oversight is a big part of what makes them a 'qualified' custodian.
Adherence to KYC and AML Standards
This is a big one. KYC (Know Your Customer) and AML (Anti-Money Laundering) are pretty standard in finance, and they're just as important, if not more so, in the digital asset space. KYC is all about verifying who you are – making sure you're not using a fake name or identity. They'll likely ask for identification documents, proof of address, and other details. AML is the broader set of rules designed to stop criminals from using the financial system to hide their dirty money. This involves monitoring transactions for anything suspicious and reporting it if necessary. A key part of AML is the 'Travel Rule,' which means custodians have to share information about who is sending digital assets and who is receiving them, especially for larger transfers. A custodian that takes KYC and AML seriously is building a more trustworthy system for everyone. It shows they're committed to preventing fraud and illegal activities, which is pretty important when you're dealing with digital assets. They should have clear processes for customer identification and ongoing transaction monitoring to catch any red flags early on.
When selecting a custodian, it's vital to understand their regulatory standing. This includes checking for relevant licenses, understanding the scope of their supervision, and confirming their commitment to robust KYC and AML procedures. These elements are not just bureaucratic hurdles; they are foundational to ensuring the security and legitimacy of your digital asset holdings.
Assessing Security Protocols for Digital Asset Protection
When it comes to digital assets, security isn't just a feature; it's the whole ballgame. You've got to be absolutely sure your assets are locked down tight. Think of it like a bank vault, but for the digital age. The best custodians put a ton of effort into making sure their systems are super secure, because, let's face it, losing digital assets is pretty much irreversible.
Implementing Robust Cybersecurity Measures
Cybersecurity is the first line of defense. This means more than just having a firewall. It involves a multi-layered approach to protect against all sorts of digital threats. We're talking about things like:
- Data Encryption: Making sure all sensitive data is scrambled so even if someone gets their hands on it, they can't read it.
- Access Controls: Strict rules about who can access what, and when. This often includes things like multi-factor authentication (MFA) to make sure it's really you logging in.
- Network Monitoring: Keeping a constant eye on the network for any suspicious activity. This is often done by a dedicated Security Operations Center (SOC) that works 24/7.
- Regular Audits and Penetration Testing: Having independent experts try to break into the system to find weaknesses before the bad guys do.
It's about building a digital fortress that's constantly being tested and improved. A custodian that doesn't take cybersecurity seriously is a huge red flag.
The Importance of Cold Storage and Multi-Signature Wallets
Beyond general cybersecurity, specific methods are used for digital asset safekeeping. Cold storage is a big one. This means keeping the vast majority of digital assets offline, completely disconnected from the internet. It's like putting your most valuable items in a safe deposit box that's never brought out unless absolutely necessary. This drastically reduces the risk of online theft.
Then there are multi-signature (multi-sig) wallets. Instead of just one key to unlock a wallet, you need multiple keys. Think of it like needing two or three different people to sign off on a transaction before it can happen. This prevents a single point of failure. If one key is compromised, the assets are still safe because the others are needed. This is a really smart way to manage risk, especially for larger amounts.
Leveraging Hardware Security Modules (HSMs) and MPC
For even higher levels of security, custodians often turn to specialized hardware and advanced cryptographic techniques. Hardware Security Modules (HSMs) are physical devices designed to securely store and manage digital keys. They are built to be tamper-resistant and are a step up from just storing keys on a regular server.
Another advanced technique is Multi-Party Computation (MPC). Instead of splitting keys like in multi-sig, MPC breaks down the private key into multiple shares that are distributed among different parties. These parties can then jointly perform cryptographic operations without ever revealing their individual key shares to each other. This means no single entity, not even the custodian, ever has direct access to the complete private key. It's a sophisticated way to distribute control and minimize trust in any single party. For institutions looking for top-tier security, Fireblocks Trust is a provider that emphasizes these kinds of advanced security measures.
Protecting digital assets requires a layered security approach. Relying solely on one method is risky. A qualified custodian should demonstrate a commitment to employing multiple, robust security protocols, including offline storage, multi-signature capabilities, and advanced cryptographic solutions like HSMs and MPC, to safeguard assets against evolving threats. This proactive stance is what separates a secure digital asset custodian from a vulnerable one.
When you're looking at custodians, ask them specifically about these security measures. How much do they keep in cold storage? How do their multi-sig or MPC setups work? What kind of hardware do they use for key management? The answers to these questions will tell you a lot about how seriously they take the protection of your digital assets.
Key Operational Considerations for Custodians
When you're looking at a digital asset custodian, it's not just about their security tech or how fancy their website looks. You've got to think about how they actually run things day-to-day. This is where operational resilience comes into play, and honestly, it's a big deal. Think about it: even the best security can be useless if the systems go down or if there's no plan when something goes wrong.
Ensuring 24/7 Monitoring and Incident Response
This is pretty straightforward. Digital assets don't sleep, and neither should the monitoring systems for your assets. A qualified custodian needs to have eyes on their systems all the time. This means having a Security Operations Center (SOC) that's staffed around the clock. They're the first line of defense, watching for any weird activity, potential breaches, or system issues. But it's not enough just to watch; they need a solid plan for what happens when something does go wrong. This incident response plan needs to be clear, tested, and everyone involved should know their role. Quick and effective action during an incident can make the difference between a minor hiccup and a major disaster.
Managing Operational Risks and Business Continuity
Beyond just the immediate security monitoring, custodians have to think about the bigger picture of keeping things running smoothly, no matter what. This involves identifying potential operational risks – things like system failures, human error, or even natural disasters. They need robust business continuity plans in place. This means having backup systems, redundant infrastructure, and clear procedures for how to recover if something disrupts their normal operations. It's about making sure that even if their main office has a problem, your assets are still safe and accessible. This is especially important because, unlike traditional finance, the digital asset space can be quite volatile, and disruptions can happen unexpectedly. Having a solid plan for business continuity is non-negotiable.
The Role of Audits and Penetration Testing
How do you know if all these operational plans and security measures are actually working? That's where audits and penetration testing come in. Regular, independent audits are key. These aren't just for show; they're a way to verify that the custodian is following their own procedures and meeting regulatory requirements. Think of them like a check-up for the custodian's operations. Penetration testing is a bit more hands-on. It's like hiring ethical hackers to try and break into the custodian's systems to find weaknesses before the bad guys do. This proactive approach helps identify vulnerabilities in their defenses and operational workflows. It's a good sign when a custodian is transparent about their audit results and readily shares information about their penetration testing efforts. It shows they're serious about maintaining a strong operational posture.
Comparing Custodian Types for Digital Assets
When you're looking to secure your digital assets, you'll find there isn't just one kind of custodian out there. It's a bit like choosing a bank – some are huge, old-school institutions, while others are newer, more specialized players. Understanding these differences is key to picking the right one for your needs.
Established Financial Institutions as Custodians
These are your big, traditional banks and asset servicing firms. Think of them as the seasoned veterans of the financial world. Many of them are now dipping their toes into digital asset custody, often because their existing big clients are asking for it. They bring a lot of trust and a long history of managing assets, which can be really comforting. They're also usually well-connected with traditional financial systems, making it easier to link your digital assets with your existing banking setup. However, they might be a bit slower to adopt the newest tech compared to crypto-native firms.
- Pros: Strong reputation, existing client relationships, integration with traditional finance.
- Cons: Potentially slower innovation, may have limited experience with niche digital assets.
- Best for: Institutions prioritizing stability and integration with legacy systems.
Specialized Digital Asset Custody Providers
These companies are built from the ground up for the digital asset space. They live and breathe crypto. Because they focus solely on digital assets, they often have cutting-edge security measures and a deep understanding of the unique risks involved. They tend to be more agile and can adapt quickly to new digital assets and technologies. The trade-off here might be a shorter track record compared to the old guard.
- Pros: Deep expertise in digital assets, advanced security, faster adoption of new tech.
- Cons: Shorter history, may have less integration with traditional financial systems.
- Best for: Businesses needing specialized digital asset security and innovation.
The Nuances of Self-Custody vs. Third-Party Custody
This is a big one. Self-custody means you hold your own private keys, giving you complete control. It's like keeping your cash under your mattress – you know exactly where it is, but you're also solely responsible for its safety. Lose your keys, and you lose your assets, no do-overs. Third-party custody, on the other hand, is where you hand over the keys (or rather, the custodian manages them) to a professional service. This offloads the burden of key management but introduces counterparty risk – you're trusting another entity with your assets. It's a classic trade-off between control and convenience, and the right choice really depends on your comfort level with risk and your technical know-how. For many institutions, a hybrid approach might be the sweet spot, using self-custody for certain assets and a trusted third-party for others. The asset management market is always changing, and staying on top of these custody options is important.
Choosing between self-custody and a third-party custodian involves weighing absolute control against operational simplicity and the expertise of specialized providers. Each path has distinct security responsibilities and potential risks that must be thoroughly understood before making a decision.
Evaluating Service Offerings from Digital Asset Custodians
When you're looking at who's going to hold your digital assets, it's not just about them keeping things safe. There's a whole range of services these custodians can provide, and understanding them is key to picking the right one for your needs. Think of it like choosing a bank – you want more than just a place to stash your money, right?
Core Custody and Safekeeping Services
This is the bread and butter, the main reason you're even talking to a custodian. It's all about making sure your digital assets are secure and accounted for. This usually involves a multi-layered security approach. We're talking about things like:
- Cold Storage: Keeping the vast majority of assets offline, away from any internet connection. This is like putting your valuables in a super secure vault.
- Multi-Signature (Multi-Sig) Wallets: Requiring multiple approvals before any transaction can go through. This means no single person or system can move your assets alone.
- Hardware Security Modules (HSMs) and MPC: These are advanced technologies that protect private keys. HSMs are physical devices, while Multi-Party Computation (MPC) splits keys into pieces that are never put back together in one place.
The goal here is to eliminate single points of failure and protect against unauthorized access. It's about having robust protocols that are regularly checked, like through independent audits. You'll also want to know about asset segregation – making sure your holdings are kept separate from the custodian's own assets. This is super important if, for some reason, the custodian runs into financial trouble. It’s about making sure your assets are protected, even in unexpected situations. You can find more information on how regulators are looking at these protections on the SEC's investor guidance.
Ancillary Services: Staking, Lending, and Governance
Beyond just holding your assets, many custodians are evolving into more active financial hubs. They can help you get more out of your digital holdings. For instance, some offer:
- Staking: If you hold assets on Proof-of-Stake networks, custodians can help you stake them to earn rewards. It’s a way to generate passive income on your digital assets.
- Lending: Some custodians facilitate lending programs, allowing you to lend out your digital assets to earn interest. This can be a good way to boost returns, but it's important to understand the risks involved.
- Governance Participation: For certain digital assets, participation in on-chain governance is possible. Custodians can act as intermediaries to help you vote on proposals related to the network or protocol.
These extra services can add significant value, turning your custodian from a simple vault into a more integrated financial partner. It really depends on your investment strategy and what you want to achieve with your digital assets.
Transaction Processing and Settlement Capabilities
Finally, how does the custodian handle the movement of your assets? This is about efficiency and reliability. You'll want to look at:
- Trade Execution: How easily can you execute trades through the custodian, especially if they have integrations with exchanges?
- Settlement Times: How quickly are transactions settled on the blockchain?
- Reporting: Do they provide clear, detailed, and audit-ready reports? This is vital for compliance and tax purposes.
A custodian's ability to process and settle transactions efficiently is just as important as their security measures. Delays or errors in processing can lead to missed opportunities or financial losses. It's about making sure the operational side is as solid as the security side.
When you're evaluating these service offerings, think about what's most important for your specific situation. Are you focused purely on security, or do you want a custodian that can help you actively manage and grow your digital asset portfolio?
Due Diligence in Selecting a Qualified Custodian
So, you've decided to use a qualified custodian for your digital assets. That's a smart move, especially if you're dealing with anything beyond a small personal stash. But not all custodians are created equal, and picking the right one is a big deal. It’s not just about finding someone who says they can hold your crypto; it’s about making sure they can do it safely, legally, and reliably. Think of it like choosing a bank – you wouldn't just hand over your life savings to the first place you see, right? You'd check their reputation, their fees, and what kind of security they offer. The same applies here, maybe even more so.
Assessing a Custodian's Reputation and Track Record
This is where you really dig in. You want to know if this custodian has been around the block and if they've handled things well. A solid track record means they've likely weathered market storms and kept client assets safe. Look for how long they've been operating specifically in the digital asset space. Have they had any major security breaches? If so, how did they respond? Were clients' assets affected? It's also worth checking industry reviews and any news articles about them. Are they generally seen as trustworthy and professional?
- Longevity in Digital Assets: How many years have they been offering custody services for digital assets?
- Security Incident History: Have they experienced any hacks or significant security failures? If so, what were the outcomes?
- Client Testimonials and Reviews: What are other users saying about their experience?
- Regulatory Scrutiny: Have they faced any major regulatory actions or investigations?
A custodian's reputation isn't just about avoiding bad news; it's about building trust through consistent, reliable service. When things go wrong in the digital asset world, and they sometimes do, you want a custodian who has a proven history of managing crises effectively and transparently.
Understanding Fee Structures and Service Level Agreements
Fees can really add up, so it's important to know exactly what you're paying for. Custodians usually charge based on a percentage of the assets they hold, or sometimes a flat fee, or a combination. Make sure you understand all the potential charges: setup fees, transaction fees, withdrawal fees, and any fees for additional services like staking or reporting. Don't be shy about asking for a full breakdown.
Service Level Agreements (SLAs) are also super important. These are the contracts that outline what the custodian promises to do and what happens if they don't meet those promises. Key things to look for in an SLA include:
- Uptime Guarantees: What percentage of the time will their services be available?
- Response Times: How quickly will they respond to support requests or critical issues?
- Transaction Processing Times: How long does it typically take for deposits, withdrawals, or other transactions to be processed?
- Dispute Resolution: What's the process if there's a disagreement or an error?
The Significance of Insurance Coverage and Asset Segregation
This is a big one for peace of mind. Does the custodian have insurance that covers potential losses of your digital assets? This could be crime insurance, specie insurance, or other forms of coverage. It's vital to understand exactly what the insurance covers, the limits of that coverage, and any deductibles involved. Don't assume that just because they say they're insured, you're fully protected against all possible scenarios. Read the fine print.
Asset segregation is another critical point. This means your assets are kept separate from the custodian's own assets and from the assets of other clients. This is super important because if the custodian were to face financial trouble or bankruptcy, your assets wouldn't be caught up in their mess. A properly segregated account means your assets are ring-fenced and protected. Look for clear policies and procedures that demonstrate how they maintain this segregation.
Integration with Traditional Financial Systems
When you're dealing with digital assets, it's not just about the crypto itself. You've got to think about how it all fits into your existing financial setup. This means looking at how your chosen custodian can talk to your bank accounts, your accounting software, and all those other systems you rely on every day. It's about making sure the digital asset world doesn't feel like a completely separate universe.
API Connectivity and Data Reporting
This is where the magic happens, or at least, where it should. Good custodians offer Application Programming Interfaces (APIs) that let your systems communicate directly. Think of it like a translator that lets your accounting software pull in transaction data from your digital asset holdings without you having to manually copy and paste. This is super important for keeping your books accurate and for any audits down the line. You want real-time or near real-time data feeds so you always know exactly where you stand. Some custodians provide detailed reports, but APIs are the way to go for true integration.
- Automated Reconciliation: APIs allow for automatic matching of transactions between your bank and digital asset accounts.
- Real-time Visibility: Get up-to-the-minute data on your holdings and transactions.
- Customizable Reporting: Build your own reports based on the data you need.
The ability of a custodian to provide robust API access is a strong indicator of their commitment to institutional-grade service. It moves beyond simple safekeeping to active financial management.
Fiat On-Ramp and Off-Ramp Services
Let's be real, most businesses still operate primarily in fiat currency. So, how do you get money in and out of the digital asset world smoothly? This is where on-ramp and off-ramp services come in. A good custodian will have established channels to convert your traditional currency into digital assets (on-ramp) and vice-versa (off-ramp). This isn't just about convenience; it's about efficiency and managing currency risk. You don't want to be stuck waiting days for a transfer when you need to act fast in the market. Look for custodians that support multiple fiat currencies and have competitive exchange rates. This is a key part of launching tokenized real-world assets (RWAs) on various chains, as it bridges the gap between traditional value and digital representation [78bd].
Alignment with Treasury and ERP Workflows
Your treasury department and Enterprise Resource Planning (ERP) systems are the backbone of your financial operations. When selecting a custodian, you need to ask how their services will fit into these existing workflows. Will their reporting formats work with your ERP? Can their transaction processing align with your treasury's cash management strategies? For instance, if your company handles payroll or cross-border payments, you need a custodian that can facilitate these operations with digital assets or stablecoins without causing major disruptions. It's about making sure that adopting digital assets doesn't create a whole new set of manual processes that your treasury team has to manage. Established financial institutions are increasingly offering these kinds of integrated services, recognizing that digital assets need to function within the existing financial architecture.
Wrapping It Up
So, picking the right place to keep your digital assets safe is a pretty big deal. It's not just about finding a spot; it's about making sure that spot is secure, follows all the rules, and works well with whatever else you're doing. Whether you're leaning towards the big, established banks that are dipping their toes into digital assets, or a specialized crypto-native firm, the key is to do your homework. Look at their security setup, how they handle regulations, and if their services actually fit what you need. Getting this wrong could cause a lot of headaches down the road, but getting it right means you can focus on growing your digital asset game with peace of mind.
Frequently Asked Questions
What exactly does a qualified custodian do with digital assets?
Think of a qualified custodian like a super-secure vault for your digital money and other digital items, like cryptocurrencies. They don't just hold them; they also keep them super safe using advanced technology and follow strict rules to make sure everything is legit and protected. They are like the trusted guardians of your digital treasures.
Why is it important to choose the right custodian?
Picking the right custodian is super important because your digital assets are valuable. A good custodian keeps your stuff safe from hackers and makes sure it's handled legally. If you choose a bad one, you could lose everything. It's like choosing a bank – you want one that's trustworthy and secure.
What's the difference between a custodian and just holding my own digital assets (self-custody)?
When you use a custodian, you're letting a professional company handle the security and management of your digital assets. With self-custody, you're in charge of everything – keeping your secret codes (private keys) safe and managing all the security yourself. Self-custody gives you total control but also means you're fully responsible if something goes wrong, like losing your keys.
How do custodians keep digital assets safe from hackers?
Custodians use a bunch of cool security tricks! They often keep most assets in 'cold storage,' which means they're not connected to the internet, making them super hard to reach for hackers. They also use special systems like multi-signature wallets, where more than one person or device needs to approve a transaction, and advanced tech called Hardware Security Modules (HSMs) to protect the digital keys.
Do custodians need to follow government rules?
Yes, absolutely! Qualified custodians have to follow a lot of rules set by governments. This includes things like checking who you are (KYC) and making sure no one is using them for illegal activities (AML). These rules help make sure they operate honestly and protect customers.
What are 'ancillary services' that custodians might offer?
Besides just holding your digital assets, custodians might offer extra services. This could include things like 'staking,' where they help manage your assets to earn rewards for you, or helping you lend out your digital assets. Think of them as adding extra benefits on top of basic safekeeping.
How do I know if a custodian is reputable?
You should look into their history and see what other people say about them. Do they have a good track record of keeping assets safe? Have they been around for a while? Checking their reputation, how they handle fees, and if they have insurance are all good ways to figure out if they're trustworthy.
Can traditional banks offer custody for digital assets?
Yes, many traditional banks and big financial companies are starting to offer services for digital assets, including custody. They often team up with specialized digital asset companies or build their own systems. This is because many big investors want to use the trusted names they already know for managing these new types of assets.
