Crypto.com launches asset custody service for U.S. institutions as part of expanding presence

Global cryptocurrency exchange Crypto.com announced on the 23rd (local time) that it has launched a cryptocurrency custody service for institutional investors in the United States.
According to Cointelegraph, “The licensed trust company, named Crypto.com Custody Trust Company, will serve US institutions and high net worth individuals.”
Crypto.com said it is now qualified to provide custody services for cryptocurrencies. The move comes as the company seeks to expand its presence in the United States following the election of President Donald Trump.
This is part of Crypto.com's broader plan to "integrate its digital assets with Crypto.com within the next few weeks," the company said.
The company will transfer the funds to the Crypto.com Custody Trust Company, which is a wholly owned subsidiary of Crypto.com.
"This move reflects confidence in the North American market," Marszalek said in a statement, "and we believe that the United States and Canada are two of the most important and active cryptocurrency markets in the world."
"These measures are part of our roadmap to strengthen our business and local presence," he added.
Meanwhile, Mazarek recently met with President-elect Donald Trump at Mar-a-Lago in Florida.
On the same day, Crypto.com withdrew its lawsuit against the Securities and Exchange Commission (SEC), stating that it was “very concerned about the new administration and the industry regulations.”
"We intend to cooperate in preparing a framework for this."