$10.7 trillion custodian Northen Trust enters into Crypto Services

Financial services giant Northern Trust has significantly expanded its work with blockchain and cryptocurrencies across the companys internal divisions.

In addition to adding a number of new blockchain features for managing its private equity workflow, the company, which has almost $10.7 trillion in assets under custody and administration, has also quietly opened its fund administration services to a number of hedge funds betting on bitcoin and ethereum.

While Northern Trust Hedge Fund Services had $370 billion in assets under management as of March 31, 2018, the financial institution is not currently taking direct custody of cryptocurrency.

Seems to be only a matter of time now, before the flood gate opens.