Scale and scope Forge Trust services over 1.7 million accounts with more than $14B in assets under custody, indicating a proven platform and growing demand for custody and reporting solutions that can be upsold into larger client bases and more assets under management.

Private market focus Specialization in custody administration for non-publicly traded alternative investments and close alignment with Forge Global’s liquidity services presents cross-sell opportunities to clients requiring both custody and liquidity in private markets.

Retail and institutional Offering custody as a service to both retail and institutional participants suggests scalable service layers and potential for tiered product packages, enabling targeted outreach to mid-market funds, family offices, and registered investment advisors.

Tech-enabled advantage A tech-enabled custody platform with a modern stack signals efficiency and data capabilities that can be leveraged to expand reporting, compliance, and analytics offerings to enterprise clients, including potential integrations with existing broker-dealer or fintech ecosystems.

Growth and partnerships Revenue in the hundreds of millions and a parent company in liquidity could unlock joint go-to-market strategies, channel partnerships, and co-branded solutions with large custodians or private market participants seeking combined custody and liquidity services.