Northern Trust Opens Doors to Cryptocurrency Hedge Funds As Part Of Pervasive Blockchain Expansion
Financial services giant Northern Trust has significantly expanded its work with blockchain and cryptocurrencies across multiple 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 select group of hedge funds betting on bitcoin and ethereum. These potentially groundbreaking projects amount to one of the most significant pushes into cryptocurrency and other assets encrypted on a blockchain by a traditional financial institution.
