LONDON, 09 June 2025
After commencing its digital journey in 2021, Thomas Murray recently launched its Digital Asset Custodian Monitoring (DACM) service, providing financial institutions with comprehensive risk oversight for digital asset custody operations.
Building on its decades of post-trade risk expertise, Thomas Murray extends its evaluation, selection, and monitoring capabilities to the rapidly expanding digital asset sector. With the tokenised asset market projected to reach US$30 trillion by 2034*, the offering enables institutions to capitalise on digital asset opportunities supported with comprehensive risk oversights.
Key Platform Features
DACM monitors custodians across five critical domains: cyber security, asset safety, asset servicing, operational risk, and financial stability. It facilitates risk-based custodian selection and evaluations, continuous oversight, and proactive real-time risk alerts providing comparative benchmarking and regulatory readiness for increasing global scrutiny.
Our Digital Asset Custodian Monitoring (DACM) solution provides the transparency that institutions need to navigate this complex and rapidly evolving landscape.
Market Position
The firm currently monitors over 40 digital custodian groups including fintechs and bank entities, from Anchorage to Zodia, combining risk assessments and market intelligence with cybersecurity information through its Orbit Security offering.
The launch showcases Thomas Murray’s ability to support industry players in the selection, evaluation, and monitoring of digital custodian and their related third parties.
“Digital assets are designed to be borderless,” said Hugo Jack, Digital Lead at Thomas Murray. “This borderless nature brings with it risks that regulatory frameworks are seeking to address. However, since these frameworks are still in their infancy in many cases, the risks can lead to compromise, loss, and occasionally, systemic failures, as we have witnessed on several occasions.”
About Thomas Murray
Thomas Murray is a global leader in assisting banks, FMIs and institutional investors to assess and minimise risks associated with the investment and custody of assets. They provide extensive expertise in evaluating global custodians / ICSDs, sub-custodians, cash correspondents, central counterparties, central securities depositories, and payment systems. Thomas Murray supports the financial industry in the evaluation, selection, and monitoring of service providers and the in managing related operational and systemic risks.
Media Contact
For a discussion and personalised demonstration of the platform, please email with two convenient times that work for you.
Hugo Jack,
Contact our experts
Derek Duggan
Managing Director | Banks
Derek Duggan is Thomas Murray’s Managing Director, Banks. He originally joined Thomas Murray in 1995 as Head of Information Services, and originated and produced all of our market information products, including sub-custodian risk assessments and CSD guides.
Derek now leads the large team that delivers our banking solutions. He’s responsible for our banking line of business, including all aspects of network management, client relationship management and sales.
Hugo Jack
Network Manager | Global Network Management
Hugo has responsibility for the Americas Region. He joined the company in 2012 in the Advisory team, assisting Institutional buy-side clients to evaluate, select, and monitor their asset servicing providers.
Currently, Hugo supports the ongoing monitoring and risk analysis of agent bank networks in line with AFME standards, for Global Custodian clients – which requires annual in-market due diligence reviews, meeting with the banks and local Financial Market Infrastructures. He also has responsibility for the ongoing development of Thomas Murray’s digital asset products and services.