Guarding Crypto Is a Lucrative Business and Wall Street Wants In

In the traditional investment world, providing custody of assets is a pretty boring, albeit crucial, business: Keeping clients’ holdings of stocks and bonds safe is a fairly straightforward job.

Yet in the roughly $2 trillion cryptocurrency market, a favorite playground for hackers and fraudsters, custody is anything but boring. As a result, the service costs up to 10 times more than safeguarding traditional assets like securities and cash, according to Hadley Stern, chief commercial officer for Solana custody tool Marinade, who previously headed digital asset custody at Bank of New York Mellon Corp. That makes it a potentially attractive ...