• Sat. Mar 2nd, 2024

FAMILY OFFICES TURN TO CRYPTO AS CLIENT DEMAND GROWS

 

  • But eight in ten (80%) are struggling to find support with regulation and reporting obligations

New global research* from Ocorian, the specialist global provider of services to high net worth individuals and family offices, financial institutions, asset managers and corporates reveals an increasing number of family offices are moving to include crypto and digital assets into their investment strategies.


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Its international study with more than 130 family office professionals responsible for around $62.425 billion assets under management found nine in ten (90%) said they are seeing their clients looking to include crypto and digital assets within their investment strategies. 

There are a number of challenges for family offices looking to invest in crypto – as well as being a high-risk asset, they can be faced with regulatory and practical challenges as well as inconsistencies between global tax regimes – therefore it’s vitally important that they access the right expertise to support them.

However the research from Ocorian, which works with more than 60 family offices around the world, shows eight in ten (80%) family offices and high net worth individuals are struggling to outsource to third parties who are willing to support in the regulation and reporting obligations of digital assets.

Amy Collins, Head of Family Office at Ocorian, said: “Many family offices, particularly those run by younger, tech-savvy generations want to make a move into investing in crypto and digital assets. However, given the challenges and risks associated with this asset class, it’s concerning that so many are struggling to find the right support with the practical, regulatory and reporting requirements. At Ocorian we work closely with clients to make sure we fully understand the particular asset class as well as the risk, in tandem with achieving our clients’ aims. We develop a bespoke corporate and compliance framework in each case in order to understand the pertinent risks and comply with regulations in the relevant jurisdictions.”


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Ocorian’s award winning dedicated family office team provides a seamless and holistic approach to the challenges and opportunities families face. Its service is built on long-term personal relationships that are founded on a deep understanding of what matters to family office clients. Its global presence means Ocorian can provide bespoke structures and services for international families no matter where they live.

About Ocorian

Ocorian is a global leader in corporate and fiduciary services, fund administration and capital markets. It has US$270bn in assets under administration and employs over 1,500 professionals.

Supporting and protecting global investment is Ocorian’s priority; it manages over 17,000 structures on behalf of 8,000+ clients including financial institutions, large-scale international organisations, and high-net-worth individuals.

Ocorian provides fully compliant, tailored solutions that are individual to clients’ needs, no matter where in the world they hold financial interests, or however they are structured.

The group offers a full suite of corporate, fund and private client services across a network of offices spanning all the world’s financial hubs. Locations include Bermuda, BVI, Cayman, Denmark, Guernsey, Finland, Hong Kong, Ireland, Isle of Man, Jersey, Luxembourg, Mauritius, Netherlands, Norway, Singapore, Sweden, UAE, the UK, and the US.

To find out more about Ocorian and its services, including regulatory information, visit www.ocorian.com


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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.