TechFlow News, according to Coindesk, cryptocurrency custodian BitGo and bitcoin financial services firm Swan plan to establish a BTC-only trust company as a means of offering custody services without exposure to other digital asset markets. This would be the first Bitcoin-only trust company in the United States.
The joint venture is subject to regulatory approval and will combine BitGo’s custody capabilities with Swan’s expertise in onboarding and fraud prevention.
Notably, BitGo is one of the custodians Swan uses for its bitcoin storage needs, the other being Nevada-chartered trust company Fortress Trust, which has agreed to be acquired by Ripple.
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