Vaultbank has partnered with Kingdom Trust to provide a qualified custodial solution for digital assets.
The company, which has built a digital asset platform to allow for the tokenisation of real assets and financial instruments, said the partnership with Kingdom Trust will allow its customers to have institutional grade custody and reporting.
Kingdom Trust is an independent qualified custodian regulated by the South Dakota Division of Banking. It specialises in unique and innovative custody solutions for individual investors, investment sponsors, family offices, advisory firms, broker-dealers and various other investment platforms.
It assists institutions and funds in ensuring investor transparency by providing a simple and cost-effective solution for Dodd-Frank and other regulatory and compliance issues.
The partnership will see Kingdom Trust brings its expertise in custodial services to the Vaultbank platform with end-to-end capability to secure digital currencies with the highest levels of transparency, accountability and compliance.
Matt Jennings, Kingdom Trust’s CEO states, “Kingdom Trust’s relationship with Vaultbank will catapult our custody platform for digital assets, giving investors access to regulated qualified custody solutions for digital currencies and tokenized securities through one streamlined platform.”
Vaultbank utilises blockchain technology to create, issue and trade financial instruments through a single platform. By providing the next generation suite of financial services, Vaultbank said it will allow for the buying, selling, and spending of cryptocurrencies, tokenised securities, and traditional equities on web-based and mobile platforms. The company has been working with regulatory agencies and other governmental bodies to acquire necessary licenses and comply with strict requirements in jurisdictions all over the world. Its platform is currently in beta testing, and a tiered global rollout is scheduled to begin in the third quarter of 2018.
Aaron Travis, Vaultbank’s chief operating officer, states, “By partnering with Kingdom Trust we have created a cryptocurrency exchange with a secure, compliant, and innovative custody solution that will safeguard our users’ assets and further distinguish Vaultbank and Kingdom Trust as leaders in building a regulatory compliant ecosystem for tokenising securities.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
