Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Paglamon on June 11, 2020, 12:21:44 PM
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Crypto custodians are in a race to build the next State Street or BNY Mellon.
There are only a handful of these types of large custody banks and most of them have been around for hundreds of years. But crypto is such a striking example of old world meeting new that it offers firms a rare opportunity to break into a market that would simply be impossible under normal circumstances.
“In the traditional world you can’t really build a custodian, it’s not something you can just break into,” said Diogo Monica, co-founder of Anchorage, a Silicon Valley-based custody platform specializing in crypto. “BNY Mellon has been around for 300 years and now, in crypto, we have a chance to actually build a foundational company that is potentially going to last for that long,” added Monica.
Source: https://www.coindesk.com/custody-battle-pits-institutional-boomers-against-crypto-upstarts