Banks must establish infrastructure for digital assets before it’s too late By Cointelegraph

Banks must establish infrastructure for digital assets before it’s too


Banks must establish infrastructure for digital assets before it’s too late

The adoption of digital assets in traditional legacy systems is moving fast. In the middle of the year, the digital asset custody industry saw welcome developments when the Office of the Comptroller of the Currency officially announced that all nationally chartered banks in the United States can provide custody services for cryptocurrencies.

The move, while positive for the ecosystem, is yet to be accompanied by a rigorous assessment of its technological infrastructure, like asking questions such as: Where are these newly acquired digital assets stored?

Gunnar Jaerv is the chief operating officer of First Digital Trust — Hong Kong’s technology-driven financial institution powering the digital asset industry and servicing financial technology innovators. Prior to joining First Digital Trust, Gunnar founded several tech startups, including Hong Kong-based Peak Digital and Elements Global Enterprises in Singapore.

Glenn Woo is the managing director of APAC (Asia Pacific) at Ledger — an industry leader in developing security and infrastructure solutions for cryptocurrencies and blockchain applications. He has an extensive career in the financial services and technology industry, working for S&P Global (NYSE:) Market Intelligence as the head of Hong Kong, Taiwan and Korea, and Shinhan AITAS as a consultant in financial asset custody.

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