Manny Khan is the Deputy Chief Information Security Officer for BitGo.
Businesses should be accelerating their transition to the digital asset economy today because it is present, it is now and it is here. The broader economy is already moving at lightning speed. Digital assets are moving at hyper-lightning speed. The question for business leaders is no longer whether this shift is happening. It is whether their organizations are prepared to participate in it securely and strategically.
That is why I believe businesses need to stop treating digital assets as a generic technology project. This is not simply a matter of choosing a wallet, connecting an API or standing up new infrastructure. It is a custody, security, governance and operating model decision first. In my experience, that is where many companies get it wrong. They start with the tool instead of the framework.
The views expressed are my own and are intended for general informational purposes only.
Start With Custody, Not Convenience
The first decision a business should make is not which wallet to use. It is whether the organization is actually prepared to hold digital assets itself. That decision depends on due diligence, internal maturity and a realistic understanding of risk. You cannot just hand this to your IT team and assume it will be fine. No offense to IT teams. They are great. But digital assets introduce a different kind of responsibility, and history has shown that preventable failures can become irreversible losses.
For many businesses, especially those moving meaningful value, the more appropriate way forward may be through partnering with a regulated, institutional-grade digital asset infrastructure provider rather than trying to do everything themselves from the start. Why? Because businesses should not have to choose between security and control. They can achieve both, but only if the custody solution is designed with the right fiduciary relationships, safeguards and operating discipline.
It certainly does not mean all businesses should do the same thing. It simply means that they must be realistic about what is possible internally versus externally.
Choose Wallet Architecture Based On Purpose
When people hear “wallet,” they often overcomplicate it or oversimplify it. The better way to think about wallet architecture is to start with purpose.
Hot wallets are connected environments designed for speed and operational availability. Cold wallets prioritize isolation and long-term protection. Neither one is automatically better than the other. Ultimately, the decision will come down to what you need the wallet for, which of your assets need to be instantly liquid and which assets should sit in a more controlled, lower-exposure environment.
This holds true for multi-sig and MPC technologies as well. They are not just terms thrown around for the sake of sounding tech-savvy. They have tangible effects on accountability, transparency, control and resiliency. Companies should categorize their digital assets based on their intended usage and liquidity profiles. It is important to remember that attempting to make all use cases fit into one mold tends to increase, rather than decrease, risk.
Governance Must Come Before Transactions
Before a company starts transacting in digital assets, it needs more than wallet access. It needs a transparent, controlled framework for how value will move and how risk will be managed. This is not something most organizations should try to stand up casually or in a hurry. It is not a one-day setup project.
My framework is people, process and technology, with a healthy dose of paranoia. In fact, I would put paranoia first. Not fear, but disciplined vigilance. Businesses need teams that understand the stakes, processes that define approvals and controls, technology that supports secure operations and a strategy that ties all of it together. Otherwise, you end up with silos where one team is chasing tools, another is reacting to compliance questions and nobody is aligned on the actual business outcome.
That is also why I do not see this as just an IT issue. It is not. Digital asset readiness requires compliance, security, finance, operational controls and trust controls all working together. If you treat it like a generic infrastructure problem, you miss the real challenge.
Work Backward From The Business Model
One of the biggest mistakes companies make is failing to start with who they are and what their customers need. Your business model should shape your digital asset strategy, not the other way around.
A trading firm, for example, may care deeply about liquidity and settlement without moving assets fully out of custody. A corporate treasury function may care much more about cold storage and tighter controls. A fintech business may need secure API-based integration because financial technology depends on the ability to make financial calls safely and reliably. A B2B2B provider may need shared-control models and real-time movement of money and digital assets because that is what its customers demand.
Simply put, businesses should work backward from the customer profile and the operating model to the architecture. The right answer for one company may be the wrong answer for another.
Not Every Company Needs The Same Urgency
I do believe digital assets are becoming increasingly important, especially for public companies and businesses operating nationally or globally. Cross-border activity, settlement friction and customer expectations are all pushing in that direction. But that does not mean every business needs the same strategy today. Companies operating only locally or within a narrow geographic footprint may not need to prioritize a digital asset treasury or infrastructure model immediately. Readiness still matters. Fit still matters.
What matters most is that leaders approach this with clear eyes. Risk is real. Security matters. But this is not something businesses should fear blindly. They should understand the dangers, understand the controls and understand the value they may be able to create for customers if they get the model right.
Digital assets are not just a technology shift. They are a new way of thinking about money movement, custody and financial infrastructure. The companies that benefit most will be the ones that start with security, build with discipline and choose architectures that actually fit the business they are trying to run.
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