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Fidelity Exec Foresees Future Where Cryptocurrency Custodians White Label Their Services
Summary: During the Hedge Fund Association conference in New York last week. Fidelity Digital Assets (FDAS) predicted that in the future custodians will work behind the scenes storing cryptocurrencies for other firms’ clients. Christine Sandler, head of sales and marketing at the unit of Fidelity Investments, discussed during the conference just how expensive it is to ...
During the Hedge Fund Association conference in New York last week. Fidelity Digital Assets (FDAS) predicted that in the future custodians will work behind the scenes storing cryptocurrencies for other firms’ clients.
Christine Sandler, head of sales and marketing at the unit of Fidelity Investments, discussed during the conference just how expensive it is to build your own infrastructure.
“To do it really well, you have to have geographic diversity, a staff that understands the underlying technology,” said Sandler.
Which leads her to believe that those who are great custodians will eventually act as “sub-custodians to other custodians.”
In a clarifying statement Sandler said, “It means they partner with other institutions and say, ‘I’m happy to custody this and you manage the client experience.”
By Ramsey Baker
Tags: Cryptocurrency,custodian,Fidelity Digital Assets,White lablel
Link: Fidelity Exec Foresees Future Where Cryptocurrency Custodians White Label Their Services [Copy]
