Crypto.com has established a new trust corporation in the United States to provide custodial services to high-net-worth individuals and institutions.
This week, Crypto.com announced the establishment of a new trust corporation in the United States, a significant milestone in its expansion into North America.
The new business, which is called the Crypto.com Custody Trust Company, stores digital assets for wealthy people and qualifying institutions in the US and Canada.
Crypto.com is a Singapore-based cryptocurrency exchange that provides a variety of financial services, such as trading, exchanges, an NFT marketplace, and crypto remittances. Crypto.com has achieved a significant milestone with the launch of its US trust company, following its success in obtaining licenses across multiple jurisdictions globally.
In order to guarantee uninterrupted access to accounts and funds during the transition process, the platform will migrate digital assets for US and Canadian customers to the new custody platform over the next few weeks.
Kris Marszalek, CEO of Crypto.com, visited President-elect Donald Trump at his luxurious Mar-a-Lago resort in Palm Beach earlier this month. Crypto.com withdrew its complaint against the US Securities and Exchange Commission in October during that time, following the receipt of a Wells notice that indicated an imminent enforcement action.
Crypto.com representatives announced that they had withdrawn the litigation in order to collaborate with the forthcoming administration to establish a regulatory framework for the cryptocurrency industry, in the spirit of cooperation.
Crypto.com succeeded in broadening its global presence this year, despite regulatory challenges. It established its presence in the American market by acquiring Watchdog Capital, a US SEC-registered broker-dealer, in October.
Crypto.com became the inaugural cryptocurrency sponsor of the esteemed UEFA Champions League in August. Through broadcast integrations, stadium activations, and global campaigns, this represented a significant milestone in the development of sports branding.
The Financial Conduct Authority (FCA) granted the platform Electronic Money Institution (EMI) status last year, enabling it to operate in the United Kingdom.
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