The comments about an established and trusted provider opening up the space echo what The TRADE Crypto has previously written about hedge funds and asset managers shying away from the cryptocurrency space. Standard Chartered is the latest mainstream financial institution to declare that it is exploring offering custody for crypto assets , saying there is a need for “ trusted ” providers in the space . Institutional investors are largely sitting on the side - lines , unsure whether crypto is an investment class and cautious about using new providers . Some funds , such as 40 Act ##on in the UK , are required to hold assets with certain types of custodians deemed to satisfy fiduciary requirements . Northern Trust , Oracle and Nomura are also considering launching crypto custody services .
Standard Chartered is the latest mainstream financial institution to declare that it is exploring offering custody for crypto assets , saying there is a need for “ trusted ” providers in the space . Institutional investors are largely sitting on the side - lines , unsure whether crypto is an investment class and cautious about using new providers . Some funds , such as 40 Act ##on in the UK , are required to hold assets with certain types of custodians deemed to satisfy fiduciary requirements . Northern Trust , Oracle and Nomura are also considering launching crypto custody services .