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Crypto.com has launched a new US trust company, enhancing its custody services tailored for institutions and high-net-worth individuals.
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This development represents a significant stride in Crypto.com’s efforts to penetrate the North American cryptocurrency market more effectively.
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As part of its ongoing global expansion strategy, the company has successfully secured regulatory licenses in diverse jurisdictions.
Crypto.com launches its new US trust company to offer enhanced custody services for institutions, marking a key expansion in the North American crypto market.
Key Expansions in North America
As a leading Singapore-based cryptocurrency exchange, Crypto.com has consistently aimed to broaden its financial services, which encompass trading, exchanges, an NFT marketplace, and innovative crypto payment solutions. The introduction of the Crypto.com Custody Trust Company showcases a landmark achievement for the platform, particularly with its focus on the US and Canadian markets.
“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 migration of digital assets for US and Canadian clients to this new custody platform is set to occur over the coming weeks, ensuring a seamless transition with uninterrupted access to accounts and funds throughout the process.
Cooperation with Regulatory Bodies
In a noteworthy move earlier this month, Crypto.com CEO Kris Marszalek met with President-elect Donald Trump at his luxury Mar-a-Lago resort. During this meeting, the company made the strategic decision to withdraw a lawsuit it had previously filed against the US Securities and Exchange Commission after receiving a Wells notice indicating potential enforcement actions.
This withdrawal signifies Crypto.com’s intent to collaborate with the forthcoming administration to foster a cooperative regulatory framework for the cryptocurrency industry, reflecting a proactive approach to navigating the evolving regulatory landscape.
A Positive Year for Crypto.com
Despite facing numerous regulatory hurdles, Crypto.com has made significant strides in amplifying its global presence throughout this year. In October, it acquired Watchdog Capital, securing a foothold in the American financial market as a registered broker-dealer.
Furthermore, in August, Crypto.com achieved a major milestone by becoming the first cryptocurrency sponsor of the prestigious UEFA Champions League, heralding new opportunities in sports branding through stadium activations and global marketing campaigns.
Additionally, last year the platform received regulatory approval in the UK, attaining Electronic Money Institution (EMI) status under the Financial Conduct Authority (FCA), paving the way for future growth and innovation.
Looking Forward
As Crypto.com pursues its ambitious expansion plans within North America and beyond, the establishment of its US trust company is likely to strengthen its competitive edge. The addition of custody services tailored for institutions and high-net-worth clients positions the company to thrive amidst a rapidly evolving crypto landscape.
Conclusion
In summary, Crypto.com’s launch of its US trust company not only marks a pivotal moment in its growth trajectory but also emphasizes the company’s commitment to compliance and collaboration with regulatory bodies. With a focus on expanding its offerings and building trust among investors, Crypto.com is well-positioned for continued success in the cryptocurrency sector.
