A Market Overview Of Digital Assets
17 Jun 2020 — According to the recent discussion paper by DFSA and Deloitte Middle East, to unlock the next level of digital asset adoption, there’s a need to attract investor groups’ buy-in, and digital custodians will be critical to instil confidence in the development of well-structured and safe #digitalassets.
“Developments in custody will further drive the adoption of digital assets. The engagement with market participants is essential to ensure that this evolution occurs in a way that maintains the protection of client assets and market integrity” – Peter Smith
“We hope to raise awareness of the topic with the goal of facilitating the responsible growth of the sector and enable take up of digital assets by the investor community through establishment of robust custodial services” – Nipun Srivastava
Why a licensed (3rd-party)custodian is important:
✅ Ease of use, reduced risk & complication
🔐 Increased security through a safe, regulated storage platform
☔️ A level of certainty of value through recourse & access to trusted insurers
👮🏼Safer than Exchanges that have higher chance of being targeted by hackers, going bankrupt or being shut down
📟 Leverage technology and regulatory expertise to provide greater sense of comfort & encourage market participation
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