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Kingdom Trust Leading the Way on Digital Currency Custody

A leader in self-directed retirement solutions, alternative asset investing and institutional custody services, Kingdom Trust now offers a first-of-its-kind opportunity for account holders to hold digital currency inside an IRA. Known for their flexible and creative solutions to investor needs, the firm continues to pioneer alternative asset custody for a new generation.

Due to increasing privacy concerns and an overall demand for faster transactions, the idea of digital and decentralized currency has taken root in the financial industry. Proponents point to digital currency’s ability to permit instantaneous and pseudo-anonymous transactions as enhancing its investment potential. Digital currency (sometimes called “cryptocurrency”) is also limited in supply, unlike fiat currencies that could be dramatically impacted by economic and geopolitical turmoil.

Bitcoin’s recent rise to prominence is now pushing investors to consider this for their portfolios. Earlier this year marked the first time Bitcoin was permitted to be held directly inside a retirement account. With the growing investor demand for Ethereum and Ethereum Classic as alternatives to Bitcoin, Kingdom Trust now allows those to be held on its platform as well. The firm also anticipates being able to hold Litecoin and Ripple investments on its platform later in the year.

While others may allow digital currency assets to be held in an IRA-owned single-member LLC or exchange-traded fund, the Kingdom Trust platform is the first to allow digital currency to be held directly in tax-advantaged retirement plans. The digital asset is held in an anonymous, secured digital wallet by leaders in blockchain security, cold storage and multi-signature wallets. These wallets and cold storage devices ensure the privacy, security and IRS compliance required by IRA and other retirement account holders.

“Kingdom Trust works to provide flexible custody solutions for its clients,” says Bo Ives, President of Kingdom Trust. “We received many requests for this asset class, and many investors had no desire to hold this inside an IRA-owned single-member LLC. This solution allows these clients to invest in what they know and are comfortable with and do so in a manner they desire.”

As with any investment, a digital currency investment will not be suitable for all investors. Investing in digital currency, still in its technological infancy, is very speculative and involves a high degree of risk. Kingdom Trust recommends interested investors speak with a team of professionals well-versed in the technology and in holding it inside a retirement account before proceeding with any digital currency investment.

About Kingdom Trust
Kingdom Trust is an independent qualified custodian and a non-depository trust company regulated by the South Dakota Division of Banking. The firm is a leading provider of unique and innovative custody solutions for individual investors, investment sponsors, family offices, advisory firms, broker-dealers and various other investment platforms. Kingdom Trust is a passive, non-discretionary custodian that does not provide, promote, endorse or sell investment products and does not endorse or promote any individual investment advisor or investment sponsor.

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Vendredi 21 Juillet 2017