👉 In the context of financial transactions, a depositary is a third-party intermediary who acts as a custodian for an asset or account. It holds the assets on behalf of another party and ensures that they are available when required by the other party. The primary purpose of a depositary is to facilitate the transfer of ownership or custody of assets from one party to another, especially in situations where there may be a need to hold onto the assets for an extended period. This can involve holding funds on behalf
