Jackson Hinkle
2 min read
Institutions want more than crypto yield — they want control, says Formidium exec originally appeared on TheStreet.
As Bitcoin and other digital assets inch further into the mainstream, institutions aren’t just asking about yield — they’re asking about control.
“These are the two questions that keep repeatedly coming up,” said Harsha Patwardhan, head of sales at Formidium in an interview with TheStreet Roundtable. “Are my assets safe, and how much are my assets worth?”
Formidium is not a custodian, but it plays a critical role in the digital asset stack: providing institutional-grade reporting, valuation, and visibility. While custody ensures the safekeeping of assets, Formidium ensures you know exactly what you own, where it’s held, and what it’s worth—in real time.
“We have API connectivity to over 200 exchanges, wallet providers, custodians,” Patwardhan explained. “We’re able to plug into them via APIs and get, in most cases, real-time information.”
For traditional and institutional investors, high levels of transparency isn’t just a nice-to-have feature, it’s necessary. There are hundreds of thousands of different tokens, with hundreds more being released every single day.
Once investors move past retail-friendly products, they need the kind of fund administration they’re used to in equities, private credit, or hedge funds.
“A typical fund can have anywhere from 10 to 50 wallets,” Patwardhan noted. “Even a $10 million crypto fund could have 80 wallets. Normal hedge funds don’t have that many brokers—they have two, maybe three.”
Through API integrations with over 200 counterparties, including exchanges, custodians, and wallet providers. Formidium aggregates and reconciles this fragmented data in near real time. That gives allocators not only a clear line of sight into holdings and exposures, but also valuation data that adheres to U.S. generally accepted accounting principles (GAAP) and accounting best practices.
As the lines between traditional and decentralized finance continue to blur, firms like Formidium are becoming essential infrastructure — quietly enabling the next wave of adoption.
Institutions want more than crypto yield — they want control, says Formidium exec first appeared on TheStreet on Jun 9, 2025
This story was originally reported by TheStreet on Jun 9, 2025, where it first appeared.
