Retail and institutional investors all over the world have started investing more interest in digital assets, thereby leading to more demand for digital asset custody options. The continuous evolution of digital assets has resulted in the arrival of different types of custody options. At the same time, new players in the market want to build structures and controls that are aligned perfectly with their target markets and value propositions.
The constantly changing definitions of custody of digital assets alongside emerging structures have led to formidable uncertainties in the regulatory frameworks for custodians. Furthermore, the changing landscape of the digital asset custody market has also invited the addition of more controls to the existing frameworks. The following discussion attempts to reflect on the potential of solutions for custody of digital assets in 2021. Let us find out what 2021 holds for custody of digital assets.
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Digital Assets and Their Significance
According to the International Monetary Fund (IMF), digital assets serve as digital representations of value through