According to a recent study by The Block, over the last 8 years (2012-2020), about $1.6B has been invested in crypto custody services for institutions.
Specifically, investments have been made in 46 operations. Of these, just over half (24 transactions-52%) were invested in venture capital-backed companies, being $15.7M the average investment.
The years with the largest investments were 2018 and 2020, with $703M and $419M, respectively.
Custody services allow customers to store their digital assets securely. As the investments received show, the amount and importance of such services is increasing, since the security of digital assets is really important if we take into account that this industry is a frequent target for hackers.
As a result, custody services for institutions allow companies to store digital assets safely. In addition, assets are often protected by insurance policies that protect the funds in case of theft or loss.
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