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Why Banks Should Start Offering Bitcoin & Crypto Custody Services- Robin Trehan

Custody solutions are the newest innovation to come out of the crypto ecosystem. Their introduction is anticipated to herald the arrival of institutional capital into the banking sector. Different banks have already filed for a patent to provide a crypto and bitcoin custody system to store crypto on behalf of the organization.

The efforts by the majority of institutions to provide products around crypto could be seen to help adoption in the United States and across the globe. As more products are developed around Bitcoin, more regulations are needed to provide to those institutions and clients. That prompts more regulation, and it could result in more financial products. Regulations are required for most institutions to purchase Bitcoin securely.

What is Custody Services?

In case you didn’t know yet, a custody service is considered as a vault system for the safe and effective storage of digital assets. The system will enable banks to offer a platform for finance industry clients who have made a massive Bitcoin and other crypto purchase. It will assign huge amounts of crypto without the issues of regulation and security. The primary function of the crypto vault is to enable enterprises and institutions to store huge volumes of crypto safely while still being to transact it regularly.

The presentation of institutional products around crypto is considered a step towards the enhancement of infrastructure required for OTC and institutional services. Today, institutions are more eager to purchase crypto through current custodian solutions and making a means for this is certain to attract in new capital.Robin Trehan

Closing the Gap between Digital and Current Assets

Custodian solutions for banks is one of the most prominent subjects in the banking ecosystem at the moment, as solving the issue of custody is believed to establish space for institutional investors to arrive, bringing massive amounts of capital

The way crypto presently work is tricky. Private keys that are used to keep the coins safe are long, complicated to remember and they can be lost or stolen easily. If banks implement bitcoin and crypto custody services, it will enable asset managers to provide their clients with a wide array of crypto-related services. This includes storage, transfers, and digital asset purchases.

According to some report, investors can surely expect to notice custody solutions to become a mainstream component of the banking industry in the years to come. Crypto is a new asset class and no products are new just the start of this revolution.

Robin Trehan, Robin Trehan is an expert on a diverse set of banking topics including blockchain, e-payments, crypto banking, and commercial banking. Robin Trehan, has an Undergraduate degree in economics, Masters in international business and finance and MBA in electronic business.

Disclaimer: This disclaimer informs readers that the views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee or other group or individual.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Additional disclosure: Disclaimer: This disclaimer informs readers that the views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee or other group or individual.