Crypto exchange Crypto.com has launched a US trust company called Crypto.com Custody Trust Company.
The exchange, founded in 2016 and currently holding regulatory approval and licenses in numerous countries and jurisdictions, revealed the key development in a Dec. 23 press release.
According to the details, Crypto.com unveiled the American 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 in the US and Canada.
“Launching a US trust company is our latest major step in our product roadmap to build our business and presence in two of the largest and most active crypto markets in the world: the US and Canada. “, Kris Marszalek, co-founder and CEO. noted the Crypto.com official.
The milestone points to Crypto.com’s strong interest and confidence in growth opportunities in North America, Marszalek added. According to him, the exchange has plans to further enhance its presence with new innovative services and products.
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Crypto.com plans to transfer all digital assets of customers in the US and Canada to the new custodian trust company. This will be the new custody platform for the crypto assets of US and Canadian clients, with whom the exchange will communicate 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 before and during the financial year.
In another development, Crypto.com announced that its Sports feature was now available to app and web users. The sports trading feature is available throughout the United States and will allow users to earn rewards for trading their “take on the big game.”
Crypto.com is offering $1 million in a campaign program aimed at new users. The promotion will run from December 23, 2024 to January 13, 2025. Recently, Crypto.com sponsored a professional golf tournament where prize payments were made in the native Cronos (CRO) token.
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