Genesis expands crypto footprint with custody acquisition

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Genesis Capital, a New York-based cryptocurrency firm that caters to institutional investors, announced on Thursday it has acquired London-based custodian Volt for an undisclosed sum.

The deal is significant because it paves the way for Genesis to become a prime brokerage—akin to Goldman Sachs in the traditional financial world—that offers its clients a full suite of services, including crypto storage.

Custody is an unglamorous but important part of the crypto industry, where hackers are constantly trying to steal digital assets like Bitcoin. Offering a custody service also provides an opportunity to attract a broader array of institutional clients, many of

Read more    Source: fortune.com

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