Crypto.com has launched a new US trust company, Crypto.com Custody Trust Company, marking a major milestone in its ongoing expansion efforts in North America.
The company, which has made progress in obtaining licenses in various jurisdictions around the world, is now able to offer institutional digital asset custody services to US and Canadian institutions as well as high net worth individuals.
Expansion of presence in North America
In a statement on December 23, Kris Marszalek, CEO and co-founder of Crypto.com, described the launch as part of a broader strategy to strengthen the exchange’s presence in two of the largest and most active crypto markets in the world. “The establishment of a US trust company is our latest important step in our product roadmap to build our business and presence in the US and Canada,” said Marszalek, emphasizing the company’s confidence in the North American market.
Source: X
The migration of digital assets for US and Canadian customers to the new custody platform is expected to occur in the next few weeks, ensuring uninterrupted access to accounts and funds during the transition process.
A change of strategy
Crypto.com’s US foray is not without complications, especially given its turbulent history with regulators. The company, originally based in Singapore, launched in the US in 2022. However, it has suffered significant setbacks, including the discontinuation of its exchange services in 2023. It appears that Crypto.com is now regrouping with a more regulated approach and focusing on institutional and custodial services as a safer way to expand its presence in the region.
In October the company…
