Custody research shifts attention from key storage to operations

A BCG report commissioned by Ripple, highlighted on October 21, describes institutional custody as an operating layer for digital finance. Its scope extends from securing keys to governance, interoperability and integration with other financial services.

That reflects a practical change in requirements. Holding an asset safely is only one step if the institution also needs to move it, use it as collateral and reconcile the result across internal systems.

The report's commercial context matters when reading its conclusions. Its useful contribution is the set of operational questions it raises, rather than proof that one provider can satisfy every institution's requirements.