“The future of onchain wealth management is a hybrid of self-custody and qualified custody, and we are excited to partner with Standard Custody to make that vision a reality.”
Standard Custody & Trust Company has partnered with pioneering onchain wealth management platform L1 Advisors to develop a product offering for registered investment advisors, wealth managers, and family offices.
The collaboration between the NYDFS chartered company – which provides institutional-grade custody, escrow, and settlement services for digital assets – and L1 Advisors, ushers in a new era of digital asset management, providing financial advisors with a hybrid approach to digital asset custody, management, and advisory.
This approach combines the security and convenience of qualified custody with the portability and self-sovereignty of self-custody.
Advisors can offer both discretionary and non-discretionary advice
L1 Advisors empowers clients to maintain custody of their assets while receiving advice and transaction recommendations directly on decentralized-finance protocols.
Standard Custody & Trust Company, a subsidiary of PolySign, Inc., features an integrated escrow trading platform that enables investors to buy and sell digital assets directly from custody, eliminating the risk of external transfers and inefficient transactions between different providers.
Together they’ll bring a bundled product offering that enables advisors to offer both discretionary and non-discretionary advice, facilitating a more personalized approach to digital asset advisory.
“The future of onchain wealth management is a hybrid of self-custody and qualified custody”
Jack McDonald, CEO of PolySign, the parent company of Standard Custody & Trust, commented: “L1 Advisors has solved an important challenge within the wealth management space, and we are proud to be partnering with them to help bring a more robust solution to the market via our next-generation digital asset regulated custodian. Standard Custody’s conflict-free model perfectly aligns with the ethos of private wealth, and our combined offering gives clients the most secure, qualified custodial services they deserve.”
Miguel Kudry, CEO of L1 Advisors, said: “This seamless blend of qualified custody and self-custody is an industry first and gives advisors and their clients the assurance they have been looking for so long to advise on digital assets. The future of onchain wealth management is a hybrid of self-custody and qualified custody, and we are excited to partner with Standard Custody to make that vision a reality.”
Ironclad Financial has already started using both platforms in its practice. Through the L1 platform, advisors can now monitor assets in qualified custody or in clients’ self-custodied wallets, granting unprecedented access to a broader view of client portfolios. This adaptability ensures that the advisory services can be tailored to suit operational and compliance needs, creating a unique edge for advisors in the emerging landscape of digital assets.
“I’m excited to leverage the L1 Advisors and Standard Custody product integration. This innovative alliance lets us offer a unique hybrid service that transforms how our clients manage their digital wealth”, said Nick Rygiel, the owner and Financial Advisor of Ironclad Financial.