Expect Ripple deal to close crypto custodian M&A, says advisory firm

Traditional finance custodians such as Northern Trust and BNY Mellon have been wary of entering the crypto market due to regulatory and market risks, but Architect Partners anticipates future changes, which “will represent both a threat and an opportunity for those building specialized digital and crypto asset custody business.” The crypto winter has also put pressure on custodians and slowed or halted the growth of assets under custody, leading to flat or declining revenues and recruitment of financial staying power and belief that an upturn is coming,” said Architect Partners. According.