Crypto.com has announced the establishment of a new US-based trust company to offer custody services for digital assets. This development marks an important milestone in the company’s expansion within North America, particularly targeting high-net-worth individuals and institutional clients in the United States and Canada.
Known as the Crypto.com Custody Trust Company, the new platform will oversee the secure storage of digital assets for qualified clients. Over the coming weeks, Crypto.com will transition assets for US and Canadian customers to the custody platform, ensuring continuous access to accounts and funds during the process. This move reflects Crypto.com’s confidence in the North American market, as stated by CEO Kris Marszalek.
Marszalek highlighted the significance of this step, emphasizing the US and Canada as two of the most crucial markets in the crypto space. The launch aligns with Crypto.com’s strategy to innovate and expand its offerings, solidifying its presence in a rapidly evolving market.
Based in Singapore, Crypto.com has been growing its footprint globally. This year has seen significant progress, including securing various regulatory approvals worldwide. The launch of the US trust company follows the acquisition of Watchdog Capital, a US SEC-registered broker-dealer, further strengthening the company’s position in North America.
Earlier this month, Marszalek visited President-elect Donald Trump at Mar-a-Lago, signaling Crypto.com’s willingness to collaborate with the upcoming administration. In a related development, the company dropped a lawsuit against the US Securities and Exchange Commission (SEC), which had been filed in October following a Wells notice about potential enforcement action. Crypto.com indicated that withdrawing the lawsuit was part of its effort to work cooperatively with regulators to establish a robust framework for the cryptocurrency industry.
Despite regulatory hurdles, 2023 has been a positive year for the company. Notable achievements include becoming the first cryptocurrency sponsor of the UEFA Champions League in August, a move that boosted its global visibility through stadium promotions, broadcast features, and other marketing campaigns. In 2022, Crypto.com secured UK regulatory approval, achieving Electronic Money Institution (EMI) status under the Financial Conduct Authority (FCA).
These developments highlight Crypto.com’s ongoing efforts to expand and innovate in the global cryptocurrency market, with a strong focus on North America and Europe.