Definition ∞ Trust services are financial and legal services that involve managing assets or performing duties on behalf of another party, often with a fiduciary responsibility. These services include asset custody, estate planning, escrow, and various forms of asset management where a trusted third party holds or administers assets for beneficiaries. Trust services aim to ensure the security, proper administration, and legal compliance of assets according to specified instructions. They are fundamental to traditional finance for safeguarding wealth and facilitating complex transactions.
Context ∞ In the digital asset world, the concept of trust services is being redefined and debated, especially concerning self-custody versus centralized custodianship. News often covers traditional financial institutions entering the crypto space to offer regulated trust services for digital assets. The discussion revolves around balancing the decentralized ethos of crypto with the need for institutional-grade security and compliance for large-scale adoption and investor protection.
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