Custodial services are services for the storage and disposal of client’s property based on his written order. Property often refers to securities, financial instruments, and cash. In our case, it relates to cryptocurrencies.
Accounting for property and transactions with it for each client is conducted separately from the accounting company providing custodial services. The company can open individual accounts, including those in other organizations, for storing and keeping records of the property of its client, confirming and registering property rights and keeping records of the movement of funds.
One of the most popular custodial crypto services is BitGo. It was founded in 2013, and recently announced support for 57 new assets on the Ethereum blockchain.