Crypto.com brokerage is the latest to launch its own money custody service bitcoin for companies, according to the announcement to which Livecoins gained access.
In a note, the broker stated that the service will be available in the United States. So it shows that the arrival of Donald Trump as US President, who will take office on January 20, 2025, is leading to companies in this country showing renewed interest in entrepreneurship.
The broker claims to have more than 100 million customers worldwide and launched the Crypto.com Custody Trust Company.
Brokerage Executive Celebrates New Bitcoin Custody Service in the US
Crypto.com, after obtaining a trust company charter, began offering custodial services to eligible institutions in the United States and Canada, as well as to high-net-worth clients.
Therefore, in the coming weeks, all digital assets of customers in these countries will be transferred to the Crypto.com Custody Trust Company.
During the transition, affected users will receive notifications and retain full access to their accounts and funds before, during and after the process.
Kris Marszalek, co-founder and CEO of Crypto.com, emphasized the importance of this progress: “Establishing a trust company in the US is an important step in our expansion plan, strengthening our presence in two of the most relevant and dynamic cryptocurrency markets in the world: the US and Canada. This move reflects our confidence in the North American market and we are committed to continuing to innovate and improve services to our customers in the region.”
Institutional Bitcoin adoption is a milestone for 2024
As reported by Livecoins, the listed company ‘Matador’ has added bitcoin to its reserves in recent days. However, the episode is not very prominent in 2024 as several companies bought their first bitcoin units.
Companies and investment funds, driven by concerns about global inflation and the quest for asset diversification, have intensified their Bitcoin purchases.
Additionally, banks and traditional financial institutions have further developed their Bitcoin strategies by launching products such as cryptocurrency ETFs and custody solutions that served both institutional and retail investors.
The launch of Spot ETFs in the United States were a milestoneattracting significant capital flows to the market and further increasing Bitcoin’s credibility as a viable financial asset. Major players like BlackRock and Fidelity led this change by introducing new products that facilitated institutional exposure.
Thus, the market expects that 2025 will intensify the search for bitcoin around the world, which could lead to a new price increase.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
