As a seasoned researcher with a keen interest in the dynamic world of cryptocurrencies, I find myself constantly amazed by the rapid growth and expansion of platforms like Crypto.com. Having followed their journey closely, I must admit that their latest move to launch a US trust company is nothing short of impressive.
This week, Crypto.com unveiled the establishment of a fresh trust company in the U.S., which is a significant advancement in their strategic growth plans across North America. Named Crypto.com Custody Trust Company, this new entity offers digital asset custody services to high-net-worth individuals and eligible institutions, not only in the United States but also in Canada.
Key Expansions in North America
Crypto.com is a platform headquartered in Singapore that specializes in cryptocurrency transactions, providing services like trading, exchanges, an NFT marketplace, and crypto payments. After earning licenses in various countries worldwide, Crypto.com has reached a notable achievement by introducing its US-based trust company.
Setting up a U.S. trust company is the latest major move in our strategy for expanding our business and establishing ourselves in two highly influential and bustling crypto markets globally – the United States and Canada. This strategic decision demonstrates our belief in the potential of the North American market, and we are excited about further developing and revolutionizing the market for our clients in this region,” stated Kris Marszalek, co-founder and CEO of Crypto.com.
Over the coming weeks, we’ll be transferring your digital assets (for both U.S. and Canadian clients) to our newly developed custody platform. This is to make sure that you can continue using your account and accessing your funds smoothly during the transition period.
This month, Kris Marszalek, CEO of Crypto.com, met with President-elect Donald Trump at his Mar-a-Lago resort in Palm Beach. In response to a Wells notice from the US Securities and Exchange Commission, which suggested an upcoming enforcement action, Crypto.com decided to drop a lawsuit it had filed against the SEC in October. The company chose this step to collaborate with the incoming administration on creating regulations for the cryptocurrency sector.
A Positive Year for Crypto.com
Even with regulatory hurdles, Crypto.com managed to broaden its international footprint this year. In October, it took over Watchdog Capital, a US Securities and Exchange Commission (SEC)-registered broker-dealer, thereby establishing itself in the American market.
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2024-12-26 02:31