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Can we do custody verification in Tezos like we do for other currencies for example for bitcoin related coins and ethereum the custody verification can be done using address , message and signed message.

Can we achieve something similar in Tezos.

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Yes, you can sign arbitrary bytes of information in Tezos to prove that Alice owns address X

See here: How can I sign a message with my Ledger?

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  • the process that you mentioned like signing a message with ledger will incur a cost as well which i dont wanna do . Can you if the approach i asked is feasible
    – Debasish22
    Mar 3 '20 at 18:06
  • There is no cost to simply signing bytes using a ledger. Signing is not a online/on-chain operation; it is completely offline and therefore impossible to incur a cost.
    – utdrmac
    Mar 3 '20 at 21:12

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