As digital-asset adoption has surged, so has demand for institutional-grade digital-asset custody. Family offices, high net-worth individuals and external asset managers increasingly see that self-custodial solutions have limitations in supporting the ongoing trading and operational needs of their portfolios.
In response, custodians have expanded their role from the safekeeping of cryptocurrencies to helping clients navigate and participate in new business opportunities and asset classes.
One of the earliest movers in this field was BNY Mellon, whose digital-asset custody platform went live in the US in October 2022, enabling clients to hold and transfer Bitcoin and Ether.
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