Blockchain.com names custody partner for its institutional offering
Blockchain.com, a cryptocurrency exchange and financial services firm, has named Standard Custody & Trust Company as the custodian for Blockchain.com and Altis Partner's new institutional platform, Blockchain.com Asset Management (BCAM).
On April 6, Blockchain.com introduced a suite of institutional investment solutions that combine the crypto trading infrastructure, research and security software services of Blockchain.com in partnership with investment management firm Altis Partners.
According to the Thursday announcement, Standard Custody's service is regulated, insured and led by a team of experts from the crypto and financial services industry. Charles McGarraugh, Altis Partners' chief investment officer, stated that:
Institutional involvement in the cryptocurrency industry has increased considerably over the years, suggesting a stark change in how traditional investors view digital assets. Since the debut of Bitcoin (BTC) futures in December 2017, the crypto industry has given institutional onramps to trading platforms, secure custody solutions, and new product offerings such as exchange-traded products, micro futures, and now exchange-traded funds.
The expansion of crypto custody continues as more institutional investors seek exposure to Bitcoin, Ether (ETH), and decentralized finance (DeFi). Last week, decentralized finance wallet and browser extension MetaMask teamed up with four major crypto custodians to expand its institutional offering: Gnosis Safe, Hex Trust, GK8, and Parfin.
Related: What is driving institutions to invest in crypto? BlockFi's David Olsson explains
Coinbase, Microstrategy and EQONEX Group are just a few firms that actively encourage institutional investors to get involved in the crypto market. As
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