Crypto.com launches U.S. trust company

Crypto exchange Crypto.com has established a US trust company called Crypto.com Custody Trust Company.

The exchange, which was founded in 2016 and now has regulatory approvals and licenses in many countries and jurisdictions, revealed the significant development in a press release on December 23.

According to details, Crypto.com announced its US trust company after securing a trust company contract. With the launch of the digital custody firm, Crypto.com will now be able to extend its custody services to eligible institutions and high-net-worth clients in the United States and Canada.

“Establishing a US trust company is our latest important step in our product roadmap to develop our business and presence in the US and Canada, two of the most important and active crypto markets in the world,” said co-founder and CEO Kris Marszalek. Crypto.com official stated this.

Marszalek added that the milestone signals Crypto.com’s keen interest and confidence in growth opportunities in North America. According to him, the exchange plans to further develop its presence with new services and innovative products.

Crypto.com plans to transfer all digital assets of customers in the US and Canada to the new custody trust company. This will be the new custody platform for crypto assets of US and Canadian customers, whom the exchange will contact for transition purposes.

Despite this, the exchange assured its customers in the region that access to accounts and funds will be possible before and during the implementation.

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 US and will allow users to earn rewards for trading their “opinions on the Big Game.”

Crypto.com is offering $1 million as part of a campaign program targeting new users. The promotion is valid between December 23, 2024 and January 13, 2025. Recently, Crypto.com sponsored a professional golf tournament where prize payouts were made with the native Cronos (CRO) token.