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“This next era of institutional adoption has to be done via a tech-focused mindset first; you can't just throw a balance sheet at it,” Ballensweig said in an interview with CoinDesk. “When I heard [BitGo CEO] Mike Belshe’s vision for this, it was precisely how I would have designed this
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"Today, Rain is launching in the UAE, as the first licensed retail exchange," Joseph Dallago, CEO and co-founder of the Bahrain-based company, tweeted on Tuesday. "This is a 5 year effort, as we were one of the first exchanges to enquire about licensure back in 2018, when the ADGM released
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Notably, in February, the SEC voted to expand its existing regulations over all trading and lending firms by requiring them to keep customer assets with “qualified custodians,” meaning chartered bank or trust companies, SEC-registered broker-dealers or Commodity Futures Trading Commission (CFTC) derivatives merchants. Crypto speaks about the proposal as the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The global securities marketplace, Nasdaq, has put on hold its proposed launch of a cryptocurrency custody service which was supposed to take place at the end of Q2 2023. The decision was driven by regulatory risks
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Recently several institutions unveiled their plans for crypto, bringing new interest, capital and participants. Notably, we saw BlackRock file for permission to create a bitcoin ETF, which fired a bright signal flare to the rest of the financial world. As one of the world’s largest financial entities, dipping their toe
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Global securities marketplace Nasdaq is halting the launch of its own cryptocurrency custody that it previously planned to roll out by the end of the second quarter 2023.Nasdaq has suspended the launch of its digital asset custody business because of regulatory risks in the United States, CEO Adena Friedman announced
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The stock market operator had said in March, that it was putting together infrastructure and regulatory approval for the custodian service. Original Source
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The digital asset industry reached over $3 trillion at its peak in November 2021. However, the custodial part of the market remained at the more modest mark of $447.9 billion in 2022. These numbers are cited from a joint report on the state of digital asset custody conducted by the consulting
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Amid increased scrutiny and tumultuous events in the crypto industry, Anchorage Digital, the San Francisco-based cryptocurrency firm, reports a substantial 80% increase in the assets under its custody in the first quarter of 2023. Anchorage Digital, the
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According to the FID filing, Prime Trust is unable to access "legacy wallets." Before 2020, Prime Trust managed its customer’s crypto in its own wallets. In 2020, Prime Trust migrated customer assets to Fireblocks, an institutional custody and security firm, to have Fireblocks manage crypto assets on behalf of Prime
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