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How Big Is The Role Of Digital Asset Custodians In Enterprise Adoption? How do exchanges store your Bitcoins?

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The evolution of Bitcoin, and subsequently blockchain technology, since the major cryptocurrency topped out at $20,000 has been fascinating to watch. The price may not even be halfway back to that mark some two-and-a-bit years on, but the growth of the entire industry has been exponential.  

The 2017 price boom was purely off the back of individual speculative investors who flocked to Bitcoin, not even sure what it was, with the hopes of making money quick. However, the 2020 market, and its place in the greater industry, paints a picture of strong enterprise and institutional interest and adoption. It could be said that we are sitting on the precipice of another massive move for Bitcoin if we can achieve similar interest and adoption from enterprises and institutions as we saw in December 2017. 

So, what do we need to get right to ensure that enterprises and institutions will flood enough money and interest into the entire industry - not just Bitcoin - for there to be critical mass adoption? Again, using Bitcoin’s market price as a metric of the health and interest in crypto and blockchain, we have seen that individual interest alone is not enough anymore. 

I spoke with Iqbal Gandham, the managing Director at crypto-friendly trading platform eToro, about what is needed for the cryptocurrency industry to take off in 2020. 

“There are four components that we need to make crypto work,” he said. First is regulation, and that is happening. We are not running scared of regulation any more, we are embracing it.”

“Second, we need custody solutions. The likes of Fidelity are looking at custody, and third-party custody solutions are being developed. In Germany, the banks can sell crypto, so the regulation is there and the custody.”

Gandham goes on to mention two more components — structured products, such as a Bitcoin ETF — and utilization which he feels is wallet adoption. However, it feels ...

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