Rebecca "Rivi" Aspler | Source | Director of Product Management at Unbound Tech

Custodians safeguard assets, minimizing for the investor, the risk of theft or loss. As such should-be-trustworthy vendors, institutional investors alongside with the regulator require crypto custodians to follow up on fiat related regulations and guidelines, whether these are KYC and compliance checkups, periodic account status reports, approval of withdrawals according to the ‘segregation of authorities’ guideline and at best, insurance of assets by the custodian vendor.