Is the integration of bitcoin on State Street corporation services necessary?

[Flow-er]

Exchange are like the financial banks were we keep our digital assets. This means that they have lots of features that are similar to financial banks. For instance, the financial banks will give you some interest on the amount of money that you have saved with them. Similar, of you stake your digital assets, the exchange will give a percentage interest on the amount of cryptocurrencies saved. This is basically the similarity between the two and it is perhaps the best features in the financial or virtual world. The cryptocurrency exchange has brought lots of innovations that are user friendly to their platforms.


Something is strange! I came across a company that offers a custodial services for digital assets . At the end of this short article, I need answers to a particular question which I was unable to clarify. The name of the company is State Street Corporation, dubbed as the largest company offering custodial services in the world. This conglomerates decide to extend its custodial functionality to bitcoin and other digital assets. Unlike the crypto exchange that you will have something to gain, I don't think this particular company have the juicy features offered by cryptocurrency exchange.

My question is- if I keep my bitcoin In the custody of this company, what will he my interest?

 

[Suba]

Of course you already understand what a custodian is, so I don't need to explain in detail here. On cryptocurrencies. Custodians often have functions as wallets and exchanges, Custodians are run by large companies or commercial banks that have permission from the local government. So the user trusts the custodial company to hold the private key and password. Some common crypto custodians that we often encounter are Gemini and Kraken, BitGo, Kingdom Trust, itBit, Anchorage etc. While the company you mentioned above is State Street Corporation (Statestreet.com) I didn't get much information, but this domain was last updated on July 01, 2021. If you want to use a custodial service to store large amounts of crypto, use a custodial company that has have a trusted reputation.

 

[Lens1000]

I love this thread, it was very incisive but the question asked as not been answered by SUBA. It seems the custodial Companies will act in the capacity of a security to the digital assets kept in their custody. I am looking for a custodial services that will go a long way as to give interest on the digital assets kept with them. This type of services is a very nice one and it looks vdh new to me.