🏦 NEWS FOCUS: TradFi Giants Eyeing Crypto Custody Services 🛡️
NEW YORK CITY |
Traditional financial institutions (TradFi) are now actively exploring the prospect of offering specialized crypto custody services.
This strategic pivot is driven by the urgent need to provide secure, regulated asset storage solutions for sophisticated clients, including large investment funds and institutional investors who are increasingly allocating capital to the digital asset space.
The move into custody is widely viewed as the foundational first step necessary for major traditional financial organizations to engage meaningfully with the broader cryptocurrency market.
By securing institutional-grade storage, these firms can mitigate risk and comply with fiduciary duties.
In response to this growing institutional demand, the Financial Services Commission (FSC) is currently reviewing and developing specific regulations tailored for virtual asset custody services.
The introduction of clear, stringent rules for safekeeping digital assets will be instrumental in further institutionalizing and legitimizing the cryptocurrency market within Taiwan's financial ecosystem, paving the way for greater institutional participation.
#TradFi #CryptoCustody #FSCRegulation #InstitutionalAdoption
