Regulated Crypto Custody (Almost) Here. It’s a Game Changer

Hedge fund manager Kyle Samani embraces his job making multimillion-dollar bets on the wild market for cryptocurrencies, but he’s long contended with a headache: Ensuring his holdings aren’t stolen.

Samani, a managing partner at Multicoin Capital, hopes to offload that task soon. He’s among a small group of institutional investors who have been testing Coinbase Inc.’s new crypto custody service, one of scores of such offerings in development. Some services are now almost ready -- with huge implications for the market’s future.

“There are a lot of investors where custodianship was the final barrier,” Samani said in a phone interview. ...