The most fundamental requirements of a custody provider can be at odds with one another. The operational considerations can also be quite daunting. There's also the need for insurances and failsafes, along with an expectation that providers will comply with industry standards. Servicing custody clients in a global context becomes more complicated and the onus is on operators to ensure they comply. The regulatory considerations alone are quite daunting. Digital assets may be considered as securities, commodities, or currencies, depending on the jurisdiction, and the custodian may be responsible for more than one type of asset. One big reason for this is that custody is one of those tasks that everyone takes for granted, but under the hood, it is far more complex than it seems. It is such a misunderstood and unknown part of the industry." Actually, it took six months after I started to figure out exactly what I did. Chakar points out, "I started my career in custody, and I'll tell you, nobody goes to university to become a custodian.
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