The Banking and Asset Management Industry has presented significant development over the last century, offering new profound opportunities and possibilities relating to growth and innovation.
From its humble beginnings, the first example of transactional operations conducted by merchants from around the world, things played out pretty simple, with the giving of grain loans to farmers and traders who carried goods between cities to cities.
From then on, the industry which has been fueled by automation and technological advancements has flourished with innovations seeking to improve operational sections and customer experience.
Put merely; banking handles cash, credit, and other transactions. Banks provide a safe haven for people to store extra cash and credit. They offer diverse services such as savings accounts, deposit, and checking accounts. Banks use deposits to make loans which in turn provide customers with loans services such as; home mortgages, business loans, and car loans.
All those descriptions explained how a traditional bank is structured. But what about custodians? What are they? Or What do custodians do? These are just some of the questions we will try to get answers too.
A simple explanation would be, a custodian is a financial institution providing the holding and safekeeping of assets including digital assets. The main difference between the traditional banks and custodians is that custodians can manage, store and exchange cryptocurrencies. Moreover, Custodians do not depend on Central Banks. Others consider it a type of service which is provided by a bank that usually focuses on settlements, safekeeping, and reporting of customers’ marketable securities and cash. It would also be described as a banking solution or specialized financial institution responsible for safeguarding a company or individual’s financial assets and is not engaged in traditional banking.
When we talk about custodians and asset management, only one company stands out from the rest of the pack, and I am talking about Wallex.
Wallex is a financial institution composed of different financial companies based in Europe and the US, that provides high end and unique custodian services from AMLD5 compliance service with advanced Fiat & Cryptocurrency transaction monitoring system, to asset protection service, custody services, escrow service, international banking solutions, OTC services (buy/sell Bitcoin), storage and management of cryptocurrencies, property management and crowdfunding operations. They also deal with managing the customer’s relationship with banks and assets, taking care of problems, investments, opening accounts in international banks, etc.
Backed by their high level of experience, they have consolidated international relationships in the insurance banking sector and wealth management. Enabling them to create a decentralized deposit system, significantly increasing the security level of deposits and exponentially increasing the remuneration of active rate accounts.
Aside from this, Wallex has created some advance and cutting edge products/services which are tailor-fit to the company or individuals’ banking needs providing them with White label solutions in every aspect of their business. They aim for the satisfaction and protection of their customers and their capital/asset. Among these products is Wallex Trust, Wallex Custody, Wallex Pay, Wallex Exchange, Wallex Change and Wallex Labs.
Wallex Trust is the technology-driven trust service provider for financial infrastructure solutions for exchanges, payment-gateways, platforms, OTC desks, broker-dealers, crowdfunding portals, real estate platforms, stable coins, and others.
Wallex Custody the, custodian of the group, also known as the asset management sector, offers the safeguarding and management on both FIAT & digital assets. Providing customers with tech liquidity and global banking solutions.
In conclusion, Wallex has proven to be the future custodian by providing its clients with sophisticated and feasible solutions for different banking and asset management needs. Taking advantage of their extensive knowledge and experience in the asset management industry, they are able to consolidate international relationships in the insurance banking and wealth management sector by creating innovative, functional and most importantly secure methods while enhancing customer experience. As such, Wallex not only creates solutions for businesses but also provides security for customers’ relationships with their assets, investments and accounts, therefore providing the industry with a name to remember.