Crypto exchange Crypto.com has launched a US trust company called Crypto.com Custody Trust Company.
The exchange, which was established in 2016 and is currently receiving regulatory approval and licenses in several countries and jurisdictions, revealed the main development in press release on December 23rd.
According to details, Crypto.com published a US trust company after obtaining a trust company charter. With the launch of the digital custody company, Crypto.com can now expand its custody services to eligible institutions and high net worth clients throughout the US and Canada.
“Launching a US trust company is our latest important step in our product roadmap to build our business and presence in two of the most important and active crypto markets in the world – the US and Canada,” Kris Marszalek, co-founder and chief executive. Crypto.com official noted.
The milestone signifies Crypto.com's strong interest and confidence in growth opportunities across North America, Marszalek said. According to him, the exchange has plans to further develop its presence with new services and innovative products.
Crypto.com plans to transfer the digital assets of customers in the US and Canada to the new holding trust company. This is the new holding platform for crypto assets of US and Canadian customers, with whom the exchange communicates for migration purposes.
Despite this, the exchange has assured users in the region that access to accounts and funds will be available before and during the exercise.
In another development, Crypto.com name that its Sports feature was now live for app and web users. The sports trading feature is available across the US and will see users earn rewards for trading their “opinion on the big game”. “
Crypto.com is offering $1 million in an enterprise program aimed at new users. The promotion runs from December 23, 2024 to January 13, 2025. Recently, Crypto.com sponsored a professional golf tournament where prize payouts were in the native Cronos (CRO) token.
