A Digital Asset Custodian operates in a similar fashion to traditional custodians, as its primary role is the responsibility for and safekeeping of customers' digital assets. However, unlike traditional asset custodians, custody for digital assets is achieved through secure key management, which allows the assets to be cryptographically secured. A Digital Asset Custodian has custody of a digital asset by holding the private key on behalf of the asset holder, ensuring that it cannot be accessed by any other party.