Survey reveals hybrid custody as leading strategy among businesses holding crypto

A new report based on a survey of 100 C-suite executives from US-based companies holding crypto on their balance sheets reveals hybrid custody models are the preferred approach for managing digital assets, with companies of all sizes tending to look beyond single-provider solutions.

The State of Crypto Custody report is published by digital assets treasury operations company Fortris. Its data shows 53% of respondents hold funds in an exchange account, 43% practice self-custody (managing their own cryptographic private keys), 36% use a single third-party custodian, and 33% use multiple third-party custodians. Only 39% of respondents chose just one of the above methods, showing a trend toward combining custody solutions.

Other key findings:

• Openness to self-custody: An overwhelming 86% of those not yet practicing self-custody expressed an interest in adopting it in the future.
• Compliance is paramount: Regulatory challenges remain top of mind, with 41% of respondents citing compliance support as a priority when selecting their current custody solution, while 83% had encountered regulatory or compliance challenges.
• Knowledge gap remains a barrier: Lack of in-house crypto expertise is a significant barrier, with 71% of respondents citing this as a factor in difficulties or delays in integrating crypto assets.

“This survey paints a clear picture of an evolving corporate crypto landscape,” said Noah Herman, Fortris Chief Revenue Officer. “While self-custody is gaining interest, it’s evident that companies require more support from custodians and custody technology providers to navigate compliance, operational risks, and integration challenges.”

The report also highlights a demand for "custody-plus" solutions, where companies look to custody providers for services beyond safekeeping — such as trading, compliance support, and integration with traditional financial systems.

About the survey

The executives surveyed came from 16 different industry verticals, with the finance industry being the largest group represented (39% of respondents). Participants represent companies ranging from small firms to large enterprises with over 500 employees.

The research was conducted by Censuswide, among a sample of 100 18+ US C-suites from companies that hold crypto on balance sheet. The data was collected between 25.10.2024 - 31.10.2024. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.

To download the full report, The State of Crypto Custody, visit www.fortris.com/crypto-custody-survey

About Fortris

Fortris is a leading provider of digital asset integration services for enterprise treasury operations. Founded in 2017 by a team of payment and security veterans, Fortris gives organizations the technology and expertise to embrace digital asset transformation in a secure and simplified manner.

This comprehensive approach allows Fortris clients to handle a wide range of financial operations, from liquidity optimization to cross-border transactions, all within the digital asset framework.

Follow Fortris online at LinkedIn and X (formerly Twitter).