Published Sep 15, 2023 01:52PM ET Updated Sep 16, 2023 03:40PM ET
The United States may soon have a Bitcoin-only trust company, according to plans disclosed by BitGo and Swan Bitcoin on Sept. 15. The joint venture is pending regulatory approval, the companies said in a statement.
The forthcoming entity will handle similar activities of a trust company, including Bitcoin (BTC) custody, administration and management on behalf of its beneficiaries. According to Cory Klippsten, CEO of Swan, the solution intends to offer Bitcoin custody without the risks of having other altcoins under the same roof.
BitGo, Swan unveil plans for Bitcoin-only trust company