Is "not your keys, not your crypto" dead?
For much of crypto’s history, self custody has been treated as a core principle. “Not your keys, not your crypto” became a rallying cry for separating money from the institutions that dominate traditional finance.
But as the industry looks to onboard the next wave of users, that model is running into practical limits.
In an interview with TheStreet Roundtable, Jake Claver and Erin Friez from Digital Ascension Group said the barrier to entry created by self custody remains too high for most people.
Lowering the barrier to entry in web3
Setting up cold wallets, securing private keys, and navigating unfamiliar tools can be overwhelming for anyone who is not already crypto native.
“There’s a really high barrier to entry,” Friez said. For many users, the choice is not between self custody and bank custody. It is between professional custody or staying out of crypto altogether.
Digital Ascension Group positions itself as a bridge. The firm works with OCC regulated banks to hold client assets in segregated accounts, allowing investors to maintain ownership while outsourcing security and administration. Clients retain full account level control, but do not have to manage private keys directly.
The approach challenges the idea that custody automatically means loss of control.
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According to the firm, assets are held in for benefit of accounts in the client’s name, with encryption and key sharding across secure hardware systems. The structure allows insurance coverage of up to $100 million while keeping assets legally segregated.
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Enabling better estate planning for digital assets
For some users, the appeal is not convenience but continuity. pointed to estate planning as a major gap in self custody.
If a private key is lost or held only in someone’s memory, heirs may never be able to access the assets, even if they are legally entitled to them.
“Estate planning is one of the most overlooked risks in self custody,” Claver stated. “If something happens to you and no one has access to your keys, those assets can be lost forever, even if your heirs are legally entitled to them.”
With bank custody, beneficiaries can be named, access rights defined, and recovery processes established. That does not eliminate risk, but it shifts it from individual key management to regulated infrastructure.
The firm emphasized that custody does not have to be permanent. Clients can move assets back to cold storage at any time. The goal is flexibility.
Self custody remains a powerful tool for those who understand it. But as crypto matures, Digital Ascension Group argues that unlocking broader participation may require embracing familiar financial structures rather than rejecting them.
