Rising Demand For Crypto Custody Creates Untapped Market With Plethora of Opportunities

  • Alex Dovbnya
    📰 News

    Institutional investors, who are accustomed to traditional bank storages, fail to secure their crypto holdings, which created a need for crypto custody service


Rising Demand For Crypto Custody Creates Untapped Market With Plethora of Opportunities

According to CNBC, institutional investors, who are accustomed to traditional bank storages, fail to secure their crypto holdings, which created a need for crypto custody service. It’s a huge burden for investors to manage all of their private keys by themselves, but there doesn’t seem to be a perfect solution on the market.

Meanwhile, a Blockchain security startup BitGo has recently become the first regulated crypto-oriented custodian after receiving a state trust company charter from the South Dakota Division of Banking. As U.Today reported earlier, banking behemoths in the likes of Goldman Sachs and Northern Trust are also mulling over launching their own custodial services.  

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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