Safekeeping And transaction securities accounts that can be segregated and not commingled with the proprietary property with the custodian Under these agreements, securities are held for the benefit of the consumers, plus the sub-custodian is generally needed to segregate securities (although not cash) with the sub-custodian’s have proprietary assets. https://financefeeds.com/ricardo-salinas-allocates-70-portfolio-to-bitcoin/