BitGo, a US-based digital asset services provider, becomes a custodian for CoinDCX, an India-based cryptocurrency exchange, and liquidity generator. BitGo launched its first multi-signature wallet in 2013. Currently, the custodian supports over 100 coins and ample amounts of on-chain Bitcoin transactions. Basically providing security, compliance, and custodial solutions, BitGo estimates…
Read MoreKoine, a London-based UK regulated digital asset custodian, and Bitfinex announced on 13 May 2020 that they will jointly launch institution-grade custody and post-trade services. Koine will be providing the exchange with a series of services that can help professional traders to mitigate the counterparty and settlement risks associated with…
Read MoreThe Geneva-based Capital Markets and Technology Association (CMTA) has released a common industry standard for the custody and management of digital assets. The CMTA’s “Digital Assets Custody Standard” (DACS), announced on April 30, 2020, aims to clarify the differences between the storage of cryptocurrencies and traditional assets and to establish basic…
Read MoreContent Basic information on the license application Notes on procedures based on the transitional provision under Section 64y KWG Notes on the subject matter of the license application (a) IT requirements (b) Reliable and professionally qualified managers (c) Number of managers required (d) Prevention of money laundering and terrorist financing…
Read MoreMajor South Korean bank KB Kookmin Bank is expected to launch a cryptocurrency custody service in the near future. According to a report from local news outlet Digital Today on March 27, the bank filed a trademark application for KBDAC, referring to a proposed Digital Asset Custody subsidiary, at the…
Read MoreGlobal Digital Finance (GDF), is an industry membership body that promotes the adoption of best practices for crypto assets and digital finance technologies, through the development of conduct standards. It is conducting a consultation on the following Codes of Conduct for Cryptoassets: Part IX(i) Principles for Custody “Custodial Wallets”. Organizations…
Read More2 March 2020: Today, the BaFin published eagerly awaited information on digital assets custody business. Content I. General facts of the digital assets custody business 1. Digital Assets or private keys 2. For others 3. Safekeeping, administration, and security II Demarcation from other regulated activities III. Authorization requirement for the…
Read MoreA new German law on regulation requires every entity that holds private keys for others (e.g., bitcoin exchanges and/or bitcoin custodians) and that actively addresses the German market must become licensed as early as January 1, 2020. And to address the most common misconception right at the beginning: No, it…
Read MoreWithin Boerse Stuttgart Group, blocknox GmbH takes care of the custody of cryptocurrencies on an escrow basis. The service was established at the end of January 2019 for users of the BISON app and extended at the end of September 2019 for users of Boerse Stuttgart Digital Exchange (BSDEX). Looking…
Read MoreAs BitGo announced on February 10, it will now offer custody services from Germany and Switzerland with two new units. The company based in Palo Alto, California, has been successfully offering services in the field of cryptocurrencies and the secure storage of digital assets since 2013. With the founding of…
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