Crypto.com has launched a new cryptocurrency custody service for institutional investors in the United States, marking a significant step in its North American expansion strategy.
Crypto.com Custody Trust Company: A Game-Changer for US Institutions
On December 23, Crypto.com announced the debut of Crypto.com Custody Trust Company, a chartered trust designed to securely store digital assets for institutional clients and high-net-worth individuals in the US.
The company revealed plans to migrate digital assets held by its US and Canadian customers to the new platform over the coming weeks. According to CEO Kris Marszalek, this move underscores the company’s commitment to two of the world’s most active crypto markets.
“This step reflects our confidence in the North American market,” Marszalek said, adding that it aligns with Crypto.com’s mission to bolster its presence in the US and Canada.
Expanding in a Pro-Crypto Regulatory Environment
Crypto.com’s expansion comes amid growing optimism about crypto policies under the incoming administration of President-elect Donald Trump. In December, Trump met with Marszalek at his Mar-a-Lago estate to discuss the future of cryptocurrency regulations.
On the same day, Crypto.com announced it had dropped a lawsuit against the US Securities and Exchange Commission (SEC), stating its intention to collaborate with the new administration to shape a regulatory framework for the crypto industry.
Trump has expressed ambitions to position the US as a global leader in cryptocurrency, tapping pro-industry leaders to oversee key regulatory agencies when he begins his term in January.
Strengthening Its US Footprint
Crypto.com, headquartered in Singapore, initially launched its US operations in 2022, focusing exclusively on institutional investors. Although the company paused its exchange services in 2023, it has since resumed efforts to grow its presence.
In October, Crypto.com acquired Watchdog Capital, an SEC-registered broker-dealer, further solidifying its foothold in the US market.
A Growing Trend of Regulated Custodians
The rise of regulated digital asset custodians is reshaping the crypto industry in the US. In recent months:
- BitGo introduced a regulated platform for managing tokens for Web3 protocols.
- Fireblocks received approval from New York’s financial regulator to custody assets for US clients.
- Other players like Coinbase Custody Trust, Fidelity Digital Asset Services, and Anchorage Digital NY have also secured licenses to meet growing institutional demand.
With the launch of its custody service, Crypto.com joins the ranks of regulated custodians aiming to support the evolving needs of institutional investors in the United States.
