2021 saw a major surge in funding for institutional crypto custodians
As noted by The Block Research's Carlos Reyes and Greg Lim, such funding rounds are likely to carry implications for the digital asset industry moving into 2022.
"In 2022, the investments into digital asset custody are likely to bear fruit in the form of enhanced service offerings and continued innovation into the technologies that enable digital asset custody," they wrote."The space will also continue to grow as traditional financial institutions such as BBVA, BNY Mellon, and U.S. Bank among others, enter or expand their digital asset offerings, including custody, either directly or by partnering with an existing custodian.
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