Northern Trust puts Crypto and TradFi in one group

Rick Steves

Northern Trust has pioneered the use of blockchain technology in private equity fund administration in 2017 and supports the tokenization and fractionalization of bonds since 2020.

Northern Trust has launched a Digital Assets and Financial Markets group to combine the teams responsible for supporting digital asset markets and those dedicated to providing market access and insights across the traditional securities services markets.

Led by Justin Chapman, who currently is global head of Market Advocacy Innovation and Research, the Digital Assets and Financial Markets group is meant to provide access to market-leading expertise, industry insights and continued innovations across all markets and all asset classes

Boundaries between traditional and digital markets will blur over time

Pete Cherecwich, president of Asset Servicing at Northern Trust, said: “Clients are increasingly interested in the development of digital markets and investing in digital assets, alongside allocations to more traditional asset classes such as equities, fixed income, alternatives and private assets. Rather than create separate business lines, by aligning our focus on digital and traditional markets together, we can continue to develop services and capabilities that truly reflect and enable our clients’ evolving investment strategies.”

Justin Chapman, Head of Market Advocacy Innovation and Research at Northern Trust, said: “Traditional and digital markets already co-exist and the boundaries between the two will only continue to blur over time. At the same time as more institutional investors are entering the digital arena, the rest of the securities industry is also facing an unprecedented amount of change arising from new regulation, market evolution and the development of emerging technology capabilities. For investors wishing to navigate this environment, our new combined group will provide access to market-leading expertise, industry insights and continued innovations across all markets and all asset classes.”

Northern Trust has pioneered the use of blockchain technology in private equity fund administration in 2017 and supports the tokenization and fractionalization of bonds since 2020.

The bank partnered with Standard Chartered to launch institutional-grade crypto asset custodian Zodia Custody in 2021. The custodian registered with the Financial Conduct Authority (FCA), meaning it is now providing commercial services to clients as a crypto asset business in the United Kingdom.

The London-based institutional-grade cryptoasset custody solution is owned by SC Ventures, the ventures and innovation arm of Standard Chartered and Northern Trust.

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