Kingdom Trust Launches Lloyd’s Syndicates-Insured Qualified Custody Platform for Digital Currency
Pioneer in qualified custodianship of digital assets adds insurance to its industry-leading digital asset custody offering.
SIOUX FALLS, S.D. (PRWEB) AUGUST 28, 2018
Kingdom Trust, the first regulated financial institution to offer qualified custody for digital asset investments like Bitcoin and Ethereum, has secured insurance for digital assets held on its qualified custody platform through one of the world’s most respected insurers. The insurance, which was successfully placed by broker SDBIC, marks a solid resolve for institutional investors seeking to enter the crypto marketplace.
“Qualified custody by a regulated, insured financial institution is a top priority and critical hurdle for institutions to invest in the digital asset markets,” says Matt Jennings, CEO of Kingdom Trust. “By adding another trusted specialist like Lloyd’s to our platform, we’re ensuring that current and future clients will have access to a highly-secure, complete safekeeping solution tailored to meet the challenges of institutional finance.”
The company recently released a white paper clarifying the concept of “qualified custody.” The white paper, written by Jennings, outlines why the cryptocurrency marketplace benefits from the inclusion of qualified custodians like Kingdom Trust.
As a qualified, independent custodian, Kingdom Trust provides over 100,000 clients (with over $12 billion in assets under custody) a level of security, accounting, reporting and insurance for digital currencies not found elsewhere in the marketplace.
The company’s initial platform accommodated custody for four digital currency assets but now provides custody services for over 30 different assets, including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Litecoin, Ripple and recent additions of ZCash and Stellar Lumens —with many more on the horizon.
About Kingdom Trust
Kingdom Trust is a state-regulated public trust company. For nearly a decade, the firm has assisted clients with regulatory compliance by serving as a qualified custodian and specializing in a variety of asset classes. As the pioneer of digital asset custody, its experience and knowledge help provide clients with secure and compliant custody. Unlike other firms in the marketplace touting they provide “custody” or “institutional custody” but are not qualified custodians or regulated financial institutions, Kingdom Trust meets the qualifications required by regulators of institutions and asset managers, including the oversight and audits assuring underlying assets are held in proper safekeeping with the necessary audit trails and recordkeeping. To learn more about Kingdom Trust and its qualified custody program, visit KingdomTrust.com or email Business Development at Sales@KingdomTrust.com.
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