Crypto.com announced the launch of a new trust company in the US this week, marking an important step in developing its expansion efforts in North America.
Known as the Crypto.com Custody Trust Company, the new entity provides custody services for digital assets to high-earning individuals and qualified institutions in the United States and Canada.
Key Expansions in North America
Crypto.com is a Singapore-based cryptocurrency exchange offering various financial services, including trading, exchanges, an NFT marketplace, and crypto payments. Following its success in securing licenses across multiple jurisdictions globally, Crypto.com has achieved a significant milestone with the launch of its US trust company.
“Launching a US trust company is our latest significant step in our product roadmap to building our business and presence in two of the most important and active crypto markets in the world – the US and Canada. This step reflects our confidence in the North America market, and we look forward to continuing to enhance and innovate the market for our customers in the market,” said Kris Marszalek, co-founder and CEO of Crypto.com.
The platform will migrate digital assets for US and Canadian customers to the new custody platform over the next few weeks to ensure uninterrupted access to accounts and funds throughout the transition process.
Earlier this month, Crypto.com CEO Kris Marszalek visited President-elect Donald Trump at his luxury Mar-a-Lago resort in Palm Beach. During that period, Crypto.com dropped a lawsuit it had filed against the US Securities and Exchange Commission in October after receiving a Wells notice signaling an impending enforcement action.
In the spirit of cooperation, Crypto.com representatives said they had withdrawn the lawsuit to work with the incoming administration on establishing a regulatory framework for the cryptocurrency industry.
A Positive Year for Crypto.com
Despite regulatory obstacles, Crypto.com succeeded in expanding its presence globally this year. In October, it acquired Watchdog Capital, a US SEC-registered broker-dealer, imposing its presence in the American market.
In August, Crypto.com became the first cryptocurrency sponsor of the renowned UEFA Champions League. This marked a major milestone in sports branding through stadium activations, broadcast integrations, and global campaigns.
Last year, the platform secured regulatory approval in the UK last year, granting it an Electronic Money Institution (EMI) status under the Financial Conduct Authority (FCA).
The post Crypto.com Enters US Custody Market appeared first on BeInCrypto.
