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Coinbase Custody will be utilised to further protect iTrustCapital clients’ bitcoin assets.
iTrustCapital, a cryptocurrency IRA and 401(k) provider, has incorporated Coinbase Custody into its platform, providing retirement planners with more robust protection for their digital-asset assets.
The integration means iTrustCapital clients will have their assets secured by Coinbase Custody’s cold storage, offering another layer of protection from attacks. Coinbase Custody maintains both SOC1 Type II and SOC2 Type II certifications, which means it undergoes regular financial audits.
According to the firm, assets held by iTrustCapital are also covered by a commercial crime insurance policy worth $255 million.
All current iTrustCapital IRA and 401 (k) clients are instantly protected.
When it comes to digital asset safekeeping, Coinbase is a market leader. According to Cointelegraph, the digital currency exchange had more over 10% of the total crypto market capitalisation as of March 2021.
Todd Southwick, CEO of iTrustCapital, stated that his company had onboarded “thousands of new active monthly users,” and that total assets under control surpassed $1 billion earlier this year. Since the beginning of 2021, total transaction volumes have surpassed $1.5 billion.
“In the future, we will be well-positioned to capitalise on the growing demand for investors to include digital assets and physical gold in their retirement accounts,” he added.
The iTrustCapital platform enables investors in the United States to include cryptocurrency assets into their retirement portfolios. Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Cardano (ADA), Polkadot (DOT), and many more cryptocurrencies, as well as real gold and silver, are now supported on the platform.
This year, investors have witnessed the price of Bitcoin and other digital currencies reach new highs. Growing institutional usage and the availability of more secure onramps to digital assets indicate that more retirement planners are interested in dabbling in the new asset class. This tendency is expected to continue as investors look for ways to combat inflation in the aftermath of the Covid-19 epidemic.