Key Takeaways:
- US Custody Service Launched: Crypto.com introduced a chartered trust, Crypto.com Custody Trust Company, to provide secure digital asset management for institutions and high-net-worth clients in the US.
- Regulatory Engagement: The exchange dropped its SEC lawsuit and aims to collaborate with the incoming administration to shape US crypto regulations.
- Strategic Expansion: Crypto.com continues to build its North American footprint, including the acquisition of SEC-registered broker-dealer Watchdog Capital.
Crypto.com has launched a cryptocurrency custody service, Crypto.com Custody Trust Company, tailored for US-based institutions and high-net-worth individuals, marking a key step in its expansion into the US market.
Announced on December 23, this chartered trust will securely manage digital assets, with holdings of US and Canadian customers transitioning to the platform in the coming weeks.
https://t.co/pFc4Pz9nFR receives Trust Company Charter in the U.S. 🇺🇸 https://t.co/JEiYjyT9WU
— Kris | Crypto.com (@kris) December 23, 2024
CEO Kris Marszalek highlighted the importance of the US and Canada as critical crypto markets, emphasizing the company’s commitment to growth in these regions.
Crypto.com has actively worked to bolster its US presence.
In December, Marszalek met with then-President-elect Donald Trump at Mar-a-Lago to discuss potential crypto regulatory policies.
Honored to have a seat at the table. pic.twitter.com/KvK0XyEdYZ
— Kris | Crypto.com (@kris) December 17, 2024
On the same day, the company withdrew its lawsuit against the US Securities and Exchange Commission (SEC), signaling an intent to collaborate with the administration on regulatory frameworks.
Trump’s pro-crypto stance, including appointing industry-friendly regulators, further aligns with Crypto.com’s ambitions.
This latest development underscores Crypto.com’s strategic efforts to secure its position in North America, a competitive hub for institutional cryptocurrency services.
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