Wired magazine calls Kingdom Trust of Murray a crypto industry ‘go-to-option’ for holding digital coin.
The article said the 60-person boutique company agreed in January to sell itself to tech startup BitGo--which focuses on security software for bitcoin investors.
Kingdom Trust Co-Founder Matt Jennings tells Wired he realized his firm could be among very few companies offering custodian services for cryptocurrencies. He said BitGo offers the only tech product “with the level of security Kingdom Trust required to make it work.”
The two companies first launched a product that allowed individuals to store digital currency in their Individual Retirement Accounts.
Kingdom Trust provides custodial services for around 100,000 clients with assets valued at $13 billion.
The firm holds alternative assets in IRAs and acts as a qualified custodian for private-equity funds, venture funds, family offices and hedge funds.