UK’s Schroders seeks crypto custodian: Bloomberg

Schroders – with over 800 billion euros under management – is preparing to enter in crypto space. The asset manager seeks partnership with company specialized in cryptocurrency custodyaccording to sources.

British asset management group Schroders is preparing its expansion into crypto and is looking for a third-party custodian as partnerreports Bloomberg citing people close to the matter.

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According to the sources, the major player in third-party asset management could turn to Zodia Custody, Standard Chartered’s subsidiary focusing on the crypto-currency custody.

Schroders currently has no direct exposure to the crypto market. However, the firm founded in 1804 does own a minority stake in Swiss crypto manager Forteus since last year.

The group now wants to “broaden” its understanding of the infrastructure needed to support “the evolution of digital asset classes”, according to a spokesperson, who declined to comment on the report by Bloomberg about the crypto custodian.

In recent years, a number of TradFi giantssuch as Fidelity, BlackRock and BNY Mellon, have plunged into this new industry.

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Last month, London-based TP ICAP began enabling its customers to trade bitcoin on its Fusion Digital Assets platform.

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