Northern Trust will pull crypto data from over 100 blockchains and 400 exchanges for clients
Northern Trust will give institutional clients a new way to track and report on their digital asset holdings, signing an agreement with data firm Lukka to pull transaction histories and point-in-time balances with historical views across their crypto exposures.
The new capability provides the bank's clients with data including transaction history and point-in-time balances with historical views.
The service reaches connectivity across more than 100 blockchains and more than 400 centralized exchange (CEX) and decentralized exchange (DEX) sources, alongside custodians, over-the-counter desks, wallets and on-chain activity.
The bank said it will draw on Lukka's platform to ingest wallet, balance and transaction data, then standardize and aggregate it for reporting at scale.
For plan sponsors and other asset owners weighing exposure to the sector, the pitch centres on record-keeping that can withstand scrutiny.
The firms say the service is designed to address the growing need for reliable, scalable reporting as institutional participation in digital assets accelerates.
Northern Trust's asset servicing arm counts corporate and public retirement funds, foundations, endowments and sovereign wealth funds among its clients, and the firm maintains 22 locations in Canada as part of its global footprint, as per its corporate disclosures.
Justin Chapman, the bank's group head of strategic partnerships, digital and financial markets, tied the move to client demand.
Clients want "a more streamlined and institutional approach" to managing and reporting digital asset exposures, Chapman said, and the Lukka deal combines digital and traditional asset reporting.
Lukka's chief executive, Kiet Tran, framed the demand around reporting that mirrors traditional finance.
"Institutions need digital asset data that is complete, normalized, and audit-ready," Tran said.
He added that the platform combines on- and off-chain data across wallets, blockchains, venues and custodians so firms can produce consistent reporting with the controls and transparency expected in traditional finance.
Founded in 2014, Lukka supplies blockchain data and software to financial institutions, exchanges, fund administrators and government agencies, and operates under AICPA SOC 1 Type II and SOC 2 Type II frameworks.
The agreement extends a broader push into digital markets.
In April, Northern Trust struck a deal with Digital Asset Holdings to build custody capabilities for tokenized financial assets on the Canton Network, a blockchain aimed at regulated market participants, the bank reported at the time.
As of June 30, Northern Trust held assets under custody and administration of US$20.0tn and assets under management of US$2.0tn.
