New York, August 30, 2023 – Standard Custody & Trust Company, LLC (“Standard Custody”), a New York Department of Financial Services regulated limited purpose trust company and qualified custodian, is excited to work with GSR Markets Limited (“GSR”), a leading digital asset liquidity provider and trading firm, to support its escrow services.
As a trusted and established qualified custodian, Standard Custody understands the importance of safeguarding client assets. Standard Custody has created a seamless and secure escrow solution that clients are leveraging through its collaboration with GSR and other best-in-class trading firms.
The solution reduces counterparty risk by separating collateral from trading partners and placing it in escrow with a bankruptcy remote, regulated qualified custodian while also enabling instant and secure settlement of digital assets.
“Standard Custody is pleased to be offering solutions that reduce risk. By collaborating with an industry leader like GSR, clients can confidently access liquidity with a leading provider while significantly reducing credit and settlement risk,” said Jack McDonald, CEO of Standard Custody.
“We believe this relationship with Standard Custody will be a crucial step in the settlement and mitigation of counterparty credit exposure, further elevating standards for reliability and efficiency, and restoring market confidence,” said Rich Rosenblum, Co-Founder and President, GSR. “This type of innovation secures the existing marketplace while encouraging further institutional adoption in the space.”
For more information about Standard Custody and its escrow services, please visit standardcustody.com or contact sales@standardcustody.com.