Glossary
Qualified custodian
A custodian holding a regulatory permission that allows it to safeguard client assets, as distinct from a technology provider offering wallet software.
Which permissions qualify depends entirely on the jurisdiction and the type of client. For some regulated funds, using a qualified custodian is mandatory; for others it is a commercial choice about counterparty risk.
The relevant diligence is not the marketing claim but the permission itself, the segregation arrangements, the insurance position and what happens to client assets in an insolvency.
Where this comes up
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