Crypto exchange Crypto.com has launched a U.S. trust company dubbed Crypto.com Custody Trust Company.
The exchange, founded in 2016 and currently boasting regulatory approval and licenses in numerous countries and jurisdiction, revealed the key development in a press release on Dec. 23.
According to details, Crypto.com unveiled the U.S. trust company after it secured a trust company charter. With the launch of the digital custody firm, Crypto.com can now extend its custody services to eligible institutions and high net worth clients across the U.S and Canada.
“Launching a U.S. 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 U.S. and Canada,” Kris Marszalek, co-founder and chief executive officer of Crypto.com noted.
The milestone points to Crypto.com’s keen interest and confidence in growth opportunities across North America, Marszalek added. According to him, the exchange has plans to enhance its presence further with new services and innovative products.
Crypto.com plans to transfer all digital assets of customers in the U.S. and Canada to the new custody trust company. This will be the new custody platform for crypto assets of U.S. and Canadian customers, who the exchange will contact for the purposes of the migration.
Despite this, the exchange has assured its clients in the region that access to accounts and funds will be available ahead of and during the exercise.
In another development, Crypto.com announced that its Sports feature was now live for app and web users. The sports trading feature is available across the U.S. and will see users earn rewards for trading their “opinion on The Big Game.”
Crypto.com is offering $1 million in a campaign program targeting 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.
