Custody

The ISSA and GBBC Digital Finance Custody Working Group set out to map how digital asset custody (DAC) fits into the overall crypto and digital assets landscape, drawing parallels or comparisons to traditional custody with the aim to allow market actors to understand the DAC business and how critical it is in building digital market infrastructure.

The aim of this working group has been to create a market focused educational “short report” exploring DAC – “Baselining the foundational blocks of Digital Asset Custody” – that lays out the key components and players, the challenges, and opportunities, and the “direction of travel” of the industry.

The majority of the report is now drafted and the group is now proceeding to a review stage. A launch programme for the report is intended to come into action by the end of March 2023. The group intends to socialise the report through industry roundtables in Q2 & Q3. Based on the structured feedback from the customers, the greater industry community, policymakers, and regulators, the group aims to evaluate whether a deeper or wider follow-up working group is required to set out putative standards for DAC.

The working group is temporarily closed for new participants whilst the report is being finalised. It will reopen for new participants as it reconvenes for the next stage.