In 2022, many financial institutions across the globe are investing in digital assets. The crypto market now has a market cap of more than $2 trillion, and the number of crypto wallets has ballooned to 260 million.

If your organization is looking to invest in the space – or already has – you may be wondering, “Do we need a ‘qualified cryptocurrency custodian’ to hold our digital asset investments?”

However, this terminology (“qualified custodian”) is more specific than those who use it in a conversational or colloquial context might realize. In fact, correct usage of the “qualified custodian” terminology is fairly limited, and may not be applicable to some organizations who assume they need one.

Fireblocks Head of APAC & Vice President, Product Strategy and Business Solutions, Stephen Richardson, discusses the pro and cons of licensed cryptocurrency custodians for storing cryptocurrencies and digital assets.

About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1300 financial institutions, has secured the transfer of over $2 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com.

Follow us on LinkedIn and Twitter for more knowledge and insights on how organizations can build, run, and scale their digital asset business:
LinkedIn: https://www.linkedin.com/company/fireblocks/
Twitter: https://twitter.com/FireblocksHQ