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.
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.
State Street have previously voiced their interest in providing custody services to crypto assets.
The issues raised by the US securities regulator focused largely on investor protection.
EBA says regulatory status of bitcoin platforms needs to be clearer.