Cryptocurrency Q&A
How did IBM get involved in crypto custody?
How did IBM get involved in crypto custody?
BlockchainWizard
Sat Jul 06 2024
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7 answers
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Could you elaborate on the circumstances surrounding IBM's involvement in crypto custody? I'm particularly interested in understanding how the technology giant came to enter this emerging field. Did they identify a specific market need or opportunity? Did they collaborate with existing players in the crypto custody space? Or did they bring their own unique solutions and expertise to the table? Understanding IBM's entry point and motivations would provide valuable insights into their overall strategy and positioning within this growing sector.
7 answers
Tommaso
Mon Jul 08 2024
IBM established a public link to cryptocurrency custody in 2020 through Promontory Financial, a wholly-owned consulting firm under its umbrella.
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isabella_oliver_musician
Mon Jul 08 2024
Promontory Financial has played a pivotal role in Wyoming's special purpose depository institution (SPDI) charter, demonstrating its deep involvement in the regulatory framework for digital assets.
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Martina
Mon Jul 08 2024
The collaboration between IBM and Promontory Financial highlights the company's commitment to exploring innovative solutions in the cryptocurrency space.
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MysticEchoFirefly
Mon Jul 08 2024
Anchorage Digital, a custody firm, also benefitted from Promontory's involvement, receiving a national charter that recognizes its services in the digital asset custody industry.
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Valeria
Sun Jul 07 2024
This partnership underscores IBM's recognition of the growing importance of cryptocurrency custody and its potential to revolutionize the financial industry.
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