The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

Standard Custody & Trust Company
Standard Custody & Trust Company, a New York-regulated limited purpose trust company and qualified custodian, has announced it is working with a digital assets firm, GSR, to support its escrow services.

(In this context, "escrow" describes a financial agreement whereby an asset or money is held by a third party on behalf of two other parties that are in the process of completing a transaction. With digital assets such as tokens continuing to evolve, the financial “plumbing” must evolve with it.)

Standard Custody has created an escrow solution that clients use through its collaboration with GSR and other trading firms. The solution reduces counterparty risk by separating collateral from trading partners and placing it in escrow with a bankruptcy-remote, regulated qualified custodian while also enabling instant and secure settlement of digital assets, Standard Custody said. 

“This type of innovation secures the existing marketplace while encouraging further institutional adoption in the space,” Rich Rosenblum, co-founder and president, GSR, said. 

Standard Custody & Trust Company is a subsidiary of PolySign.