Cryptocurrencies
Northern Trust Looks to Join Burgeoning Crypto Custody Business
- Proof of concept for crypto custody is being tested by firm
- Fiduciary is already doing accounting for digital assets
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Northern Trust Corp., which provides investment management, asset and fund administration services, is looking to get into the embryonic business of safeguarding digital assets such as cryptocurrencies.
The 129-year-old Chicago-based company has begun developing a way to secure digital assets held in custody while seeking to charge lower fees than existing crypto custodians, according to Pete Cherecwich, head of corporate and institutional business.