Crypto.com Expands North American Presence with US Trust Company for Digital Asset Custody
Crypto.com has unveiled a new US-based trust company designed to provide digital asset custody services, marking a pivotal step in its North American growth strategy. The launch reflects the platform’s focus on catering to institutional clients and high-net-worth individuals in the United States and Canada.
The newly established Crypto.com Custody Trust Company will manage the secure storage of digital assets for qualified clients. In the coming weeks, the company will transition US and Canadian customers’ assets to the new custody platform, ensuring uninterrupted account and fund access during the process. CEO Kris Marszalek expressed confidence in this move, emphasizing the critical importance of the US and Canada in the cryptocurrency market.
“This launch reinforces our commitment to innovation and expanding our presence in key markets,” said Marszalek.
Based in Singapore, Crypto.com has rapidly expanded its global footprint, achieving regulatory approvals across multiple regions. This year, the company made significant progress, including the acquisition of Watchdog Capital, a US SEC-registered broker-dealer, strengthening its North American operations.
The launch of the US trust company comes amidst efforts to navigate regulatory challenges. Earlier this month, Marszalek met with President-elect Donald Trump, signaling a willingness to collaborate with the upcoming administration. Crypto.com also withdrew a lawsuit against the US Securities and Exchange Commission (SEC), originally filed in response to a Wells notice, opting instead to work constructively with regulators to shape a robust framework for the cryptocurrency industry.
Despite regulatory hurdles, 2023 has been a landmark year for Crypto.com. In August, the platform became the first cryptocurrency sponsor of the UEFA Champions League, gaining global visibility through stadium promotions and broadcast features. In 2022, the company achieved Electronic Money Institution (EMI) status in the UK under the Financial Conduct Authority (FCA).
Crypto.com’s strategic moves highlight its dedication to innovation and market expansion, particularly in North America and Europe, as it continues to solidify its position in the evolving cryptocurrency landscape.
Featured image from: altcoinbuzz.com