Crypto exchange Crypto.com has established a US trust company called Crypto.com Custody Trust Company.
Founded in 2016, the exchange currently has regulatory approvals and licenses in numerous countries and jurisdictions and announced the key developments in a press release on December 23rd.
According to the details, Crypto.com introduced the US trust company after receiving a trust company charter. With the creation of the digital custody company, Crypto.com can now expand its custody services to eligible institutions and high net worth customers in the US and Canada.
“The establishment of a US trust company is our latest important step in our product roadmap to build our business and presence in two of the most important and active crypto markets in the world – the US and Canada,” said Kris Marszalek, co-founder and CEO of Crypto .com noted.
The milestone demonstrates Crypto.com’s strong interest and confidence in growth opportunities across North America, Marszalek added. According to him, the exchange plans to further expand its presence through new services and innovative products.
Crypto.com plans to transfer all digital assets from customers in the US and Canada to the new escrow company. This will be the new custody platform for crypto assets of US and Canadian customers that the exchange will engage with for migration purposes.
Nevertheless, the exchange has assured its customers in the region that access to accounts and funds will be possible before and during the exercise.
In another development, Crypto.com announced that its Sports feature is now live…
