The report analyses how market participants can issue, settle, safekeep and service crypto assets, as well as laying out a set of recommendations and best practises.
Custodians are aiming to evolve their outsourcing business model and leverage new technology to accommodate front-office solutions.
Custodians may be forced to adapt their business and operating models sooner than expected, as DLT-solutions and digital asset infrastructures take shape.
Hong Kong's SFC is proposing a new type of licensed activity for trustees and custodians of collective investment schemes (CIS).
Some custodians are conflicted whether they wait for the EU’s taxonomy to become crystallised or pre-empt it entirely by rolling out their own ESG reporting solutions.
Euroclear stated the new solution will make tri-party a portable service offering, agnostic of the settlement and custody location.
A UBS survey showed 87% of participants from banks with assets of $250 billion and above believe technology spending will increase annually over the next three years.
Nine global custodians are in various stages of testing with the MTU, and GlobalCollateral is in the process of engaging with around 40 other regional custodians.
The ASIFMA paper suggested allowing investment managers and their lending agents, often global custodians, to carry out securities lending in the markets.