Marsh has arranged a $150 million insurance policy from Lloyd’s through Arch. This sum will be used to custody various types of cryptos for users of the Ledger Vault technology platform.
Copper, a company serving as a custodian for digital assets, has processed $500 million in transactions since its launch in June. This is a 50% increase in volumes month-on-month.
Allegedly, Fidelity’s cryptocurrency investment arm filed an application with the New York Department of Financial Service (NYFDS) and if approved the institutional brokerage will be allowed to offer crypto-custodial services in the state.
Anchorage has announced that they have raised around $40M in a Series B funding round. A few of the large backers include Visa, Blockchain Capital, and Andreessen Horowitz. Anchorage provides crypto custody services for institutional investors.
Increasing regulatory oversight and the latest progression made in the crypto movement means that users are tasked with keeping track of their cryptos in a clear and auditable way. Maybe it’s time to turn to crypto accounting software?
A Fidelity spokesperson said that the crypto trading service will initially focus on Bitcoin allowing only institutional players to participate.
KuCoin crypto exchange has entered in a partnership with Arwen to allow its users to custody their crypto assets while trading.
Coinbase has completed its first OTC trade from cold storage offering investors with immediate liquidity on their offline funds while improving transaction speeds without jeopardizing security.
A New York investment firm, Shuttle Holdings announced that they will launch the beta version of a custody solution for digital assets built on IBM’s private cloud and encryption technologies, later this month.
Fidelity Digital Assets has launched cryptocurrency custody and trade execution services. Currently, it is available now only for selected customers, with the customer base expected to expand in the near future.