A survey conducted by Global Custodian, The TRADE Crypto and BitGo has shown that endowments are investing in crypto-assets and funds, with 94% stating they invested either directly or through a fund in 2018.
Despite being lauded for its potential to revolutionise the financial ecosystem, concerns remain over the energy use of blockchain after widespread reports of its impact on the environment.
The safeguarding of cryptocurrencies by custodian banks is the only way institutional investors can begin their journey with the much-hyped digital assets. So will custodians step up to the plate?
Cryptocurrency exchange giant CoinBase is looking to launch its own custody offering in a bid to make trading digital assets just like any other financial product for institutional investors, and part of the platform’s plans involve teaming up with traditional custodian banks.
