Broker launches bitcoin custody service and shows progress in institutional adoption

Many companies want to buy bitcoin, but do not know how to safely perform custody. Private custody services are beginning to emerge.

By: Gustavo Bertolucci

12/28/2024 6:23 PM

- Updated 12/28/2024 3:09 PM

The Crypto.com brokerage is the latest to launch its own bitcoin custody service for companies, according to an announcement that Livecoins had access to.

In a note, the brokerage stated that the service will be available in the United States. Thus, it shows that the arrival of Donald Trump as president of the United States, who will take office on January 20, 2025, is leading companies to show interest in undertaking business in this country again.

Claiming to have more than 100 million customers worldwide, the brokerage launched the Crypto.com Custody Trust Company.

Brokerage Executive Celebrates New Bitcoin Custody Service in the US

By obtaining a trust company charter, Crypto.com has begun offering custody services to eligible institutions in the United States and Canada, as well as high-net-worth clients.

As a result, in the coming weeks, all digital assets of clients in these countries will be transferred to the Crypto.com Custody Trust Company.

During the transition, impacted users will receive notifications and maintain full access to their accounts and funds before, during, and after the process.

Kris Marszalek, co-founder and CEO of Crypto.com, highlighted the importance of this development: “Establishing a trust company in the US is a significant step in our expansion plan, strengthening our presence in two of the most relevant and dynamic cryptocurrency markets in the world – the US and Canada. This move reflects our confidence in the North American market, and we are committed to continuing to innovate and improve services for our clients in the region.”