Northern Trust supported hedge funds in working with cryptocurrencies
Northern Trust is one of the world’s largest custodian funds, under the management of which there are assets worth $ 10.7 trillion – offered administration services to three unnamed large American hedge funds with a portfolio of Bitcoin and Ethereum. At the same time, special services have been created to service digital assets, which include validation, confirmation of cryptocurrency transactions and verification of compliance with KYC / AML procedures.
President of the Northern Trust for Corporate and Institutional Services Pete Cherecwich said that the time has come when any value, including national currencies, can be expressed in tokens. “We must understand how to store these tokens, evaluate them and do all that is necessary,” mentioned the president of the Northern Trust.