BitGo, the leading supplier of Bitcoin solutions, announced the signing of an agreement providing for the full purchase of the Kingdom Trust Company, an asset management company based in South Dakota.
As stated in the joint press release of companies under the management of the Kingdom Trust Company is more than $ 12 billion, and the number of customers exceeds 100 thousand.
— Jameson Lopp (@lopp) January 25, 2018
The agreement was signed on January 11, and BitGo acquires the Kingdom Trust Company and Kingdom Services after appropriate approval of the regulators. Financial terms of the transaction between the parties were not disclosed.
Global financial markets have longed for an end-to-end solution offering both the technology to secure digital currencies as well as the legal and compliance controls necessary to integrate into mainstream financial portfolios. BitGo has established itself as the digital security leader, and Kingdom Trust has served as a 40 Act qualified custodian for almost a decade and has developed the expertise required by institutional investors necessary for compliance with the Act. Both companies are working toward safety of money and assets. BitGo and Kingdom are building products for the future - marrying the new technology with the safety and controls all investors require.
CEO of BitGo
The Kingdom Trust Company meets all requirements of the US $ 408 Tax Code and acts as a qualified fund manager under the Investment Advisors Act of 1940.
According to BitGo, the services offered by the Kingdom Trust Company in combination with their own security solutions will lead to the emergence of a one-of-a-kind organization offering ample opportunities for institutional investors. The latter will not only offer unique investment crypto-currency products, but also the highest level of security and protection of funds.