2 months ago
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Crypto.com has announced the international launch of its Custody services for institutional users’ wallets. The offering is served from the United States for users in the USA and Canada and from Singapore for all customers in the rest of the world.
Crypto.com Custody: the wallet can serve institutional users internationally
Crypto.com has announced the international expansion of its Crypto.com Custody service, dedicated to international users.
In practice, U.S. and Canadian institutional clients will be able to use the wallet of Crypto.com Custody Trust Company, a Qualified Custodian recognized by the New Hampshire Banking Department as a non-depository trust company.
On the other hand, for all other institutional clients globally, the Crypto.com Custody service is provided by a company in Singapore, which operates under the supervision of the Monetary Authority of Singapore.
In this regard, Kris Marszalek, co-founder and CEO of Crypto.com, said:
“Security and protection have been the fundamental pillars of our offering since the beginning. We have invested significantly to continue improving our capabilities and offerings, never compromising the integrity of our platform. Our institutional custody offering is our latest significant step to provide clients with the best and most comprehensive digital asset platform available.”
Crypto.com Custody: the wallet offering extends to institutional clients worldwide
Crypto.com Custody is making its custody service for tokens and crypto accessible to all institutional clients worldwide.
The necessity to protect the private keys of one’s crypto wallet has always been a prerogative of the cryptocurrency sector.
Crypto.com responds to this need with its Custody service, designed to protect private keys based on a proprietary MPC implementation, which includes randomization and execution within trusted execution environments (TEE).
In this sense, Crypto.com Custody acts to ensure security and ease of use and interacts securely with the customer’s segregated MPC wallets from the custodian, to provide end-to-end security.
The offering implements compliance toolkits to ensure that all activities and transactions meet global AML/CFT standards and local regulatory requirements.
Not only that, the group offers a wide range of insurance coverages to ensure coverage for remote risk scenarios, ranging from Cyber, Tech Errors & Omissions, Fidelity / Crime Bond, and cold wallet insurance.
“`htmlThe price of CRO
“`The news of Crypto.com Custody internationally seems to have been well received by the crypto market, with Cronos (CRO) experiencing a price pump of +4% in the last 24 hours.
At the time of writing, CRO is worth $0.1327.
In general, however, this price seems more of recovery, considering that in December 2024, CRO had reached its annual high at $0.21.
In any case, while the Crypto.com Custody wallet has gone international, recently Crypto.com launched a crypto platform dedicated to institutional investors in the USA: Crypto.com US.
This is a platform where institutional and advanced traders from the United States, will be able to access the crypto-exchange that supports USD with high liquidity and extremely low latency.
English (US) ·