Digital asset servicing

The guidance supplements the licensing framework introduced by HKMA in 2023, which offers a regulatory pathway for crypto exchanges to operate lawfully. 

In collaboration with ABN AMRO, Wellington Management and WisdomTree, Citi found that smart-contract capabilities could provide unique efficiencies not found in traditional assets. 

Having secured the new licences, Crypto Finance will now be able to cover regulated digital asset trading, settlement, and custody in Germany.

As the financial world undergoes rapid transformation, the role of digital CSDs is increasingly scrutinised. Global Custodian spoke to Olaf Ransome, renowned in the industry as The Bankers’ Plumber, who asserts that digital CSDs maintain relevance, although in a redefined way. Ransome underscores the importance of acknowledging the evolving dynamics of custody and settlement, particularly within the realm of digital assets. This raises a critical question: “do we still need traditional CSDs in this context?”  

Market participants have until 29 April to provide comments; ESMA will publish its final report in Q4 2024.

The appointment follows the addition of Ralf Roth as managing director within BNY Mellon’s digital assets team in September last year.

Financial institutions will be able to view and integrate with vetted partners and services through the platform.  

Transaction shows that shared issues on Ethereum blockchain can be converted into bankable securities.  

Securrency brand will be retired following the deal, with unit being renamed as DTCC Digital Assets.  

Zodia Custody to offer simplified digital asset transfers across accounts via the Fireblocks’ Network.