Custodial service providers are entities that hold and manage digital assets on behalf of their clients. These providers are responsible for the secure storage of private keys and the execution of transactions, often offering institutional-grade security measures. They typically provide services to individuals, businesses, and institutional investors who prefer not to manage their own private keys. Their operations often involve robust security protocols and compliance frameworks.
Context
The role of custodial service providers is increasingly important for institutional adoption of digital assets, as they offer a secure and compliant way to access crypto markets. Regulatory bodies are focusing on establishing clear guidelines for these providers to ensure consumer protection and market integrity. News often covers developments in custodial solutions, including new security features or regulatory approvals.
Firms managing client digital assets must now integrate comprehensive AFSL compliance frameworks, fundamentally altering operational risk and capital requirements.
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