Crypto.com, one of the leading cryptocurrency trading platforms, announced the launch of its institutional cryptocurrency custody service in the United States, marking a significant step in bolstering its presence in the North American market.
Crypto.com Custody Trust Company
The launch of the Crypto.com Custody Trust Company aims to meet the rising demand for secure and regulated cryptocurrency custody services. The newly established trust company offers institutional-grade custody solutions, providing a secure environment for storing digital assets. In the coming weeks, Crypto.com will begin migrating digital assets of its U.S. and Canadian customers to its Custody Trust Company, ensuring users maintain access to their funds and accounts throughout the transition. Kris Marszalek, Co-founder and CEO of Crypto.com, expressed confidence in the North American market, noting that this expansion will enable the company to enhance services for its growing customer base.
Digital Asset Custody: A Growing Trend in the U.S. Market
Crypto.com is not alone in recognizing the importance of secure and compliant digital asset custody. The U.S. market has observed a surge in regulated custodians for crypto assets. Notably, BitGo, a prominent U.S.-based crypto custodian, launched a regulated platform in September 2024 for managing Web3 protocol native tokens. Fireblocks, known for its treasury management products, also received approval from New York’s financial regulator to offer custody services to U.S. clients. These movements indicate a rising institutional interest in cryptocurrency custody services, as more firms and high-net-worth individuals seek secure ways to hold their digital assets.
What’s Next for Crypto.com in the U.S. and Beyond?
In addition to launching its custody service, Crypto.com continues to expand its services and partnerships. The company recently introduced a new sports trading feature in its app, allowing U.S. users to earn rewards for engaging with sports events, alongside a $1 million promotion running through January 2025. Crypto.com’s expansion strategy also includes increasing its regulatory engagement, dropping a lawsuit against the U.S. SEC, demonstrating intent to collaborate with regulators to develop a clear regulatory framework for the cryptocurrency industry.
With the launch of its institutional custody service in the U.S., Crypto.com takes a significant step in developing its offerings and strengthening its position in a crucial market. Additional measures, including new feature introductions and regulatory collaboration, affirm their commitment to active growth and adaptation to the evolving environment.
