Crypto exchange Crypto.com has launched a U.S. 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, announced the key development in a press release on December 23.
According to the details, Crypto.com introduced the U.S. trust company after securing a trust company charter. With the launch of the digital custody firm, Crypto.com can now offer 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,” said Kris Marszalek, co-founder and CEO of Crypto.com.
The milestone highlights Crypto.com’s strong interest and confidence in growth opportunities across North America, Marszalek added. According to him, the exchange plans to further enhance its presence 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 become the new custody platform for crypto assets of U.S. and Canadian customers, and the exchange will contact them for the migration process.
Nevertheless, the exchange assured its clients in the region that access to accounts and funds will be available before and during the migration.
In another development, Crypto.com announced that its Sports feature is now live for app and web users. The sports trading feature is available across the U.S. and will allow users to earn rewards for trading their “opinion on The Big Game.”
Crypto.com is offering a $1 million 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 made in the native Cronos (CRO) token.