Banks are buying Bitcoin vaults, but a quantum problem may be waiting inside
The banks are finally buying the vaults. In May, BNY, the world's largest custodian with $59.4 trillion in assets under custody and administration, announced it would offer Bitcoin and Ethereum custody in Abu Dhabi. Weeks later, Standard Chartered confirmed it will fully acquire Zodia Custody, the digital asset custodian it incubated in 2020, with the deal expected to close by the end of August. Once a back-office concern for crypto-native firms, custody has now become a strategic priority for the world's biggest banks. However, the institutions best known for managing risk are buying into Bitcoin infrastructure just as the industry…
