13BN Custodian Kingdom Trust Reveals Crypto Acquisition & Launches Unified Retirement Account For Legacy, Alternative And Digital Assets, Including Bitcoin, In One Account.
SIOUX FALLS, S.D., May 27, 2020 /PRNewswire/ -- Kingdom Trust is announcing Choice - the first unified retirement account offering investors a single account for all their investments, be they traditional, alternative or digital.
As of today, investors can sign-up at RetireWithChoice.com to buy, sell or hold stocks, ETFs, digital assets and more all from one tax-advantaged account via Choice's self-service retirement platform.
As an added bonus for launch, and to kick-start the retirement "HODLing," the first 1,000 Choice members will receive $62.50 of bitcoin (~640K sats as of May 27) deposited into their account upon opening.
The Choice platform is backed by Kingdom Trust, a custodian who already powers over 100,000 retirement accounts and custodies over 20,000 assets (including bitcoin) across an asset base comprising more than 13 billion dollars.
"By our estimates, there are 7.1 million Americans who own bitcoin, have a retirement account, but currently don't have the option to hold bitcoin in their retirement account with their other assets. That changed today, bitcoiners now have a choice and it's backed by one of the top retirement custodians in the market," said Ryan Radloff, CEO of Kingdom Trust.
The launch of the Choice platform comes on the heels of Kingdom Trust acquiring digital asset and retirement focused Choice Holdings, built by prior CoinShares founders and veterans including Radloff, in Q1 of this year.
This deal marked the first digital asset focused acquisition for Kingdom Trust, a custodian who was the first in the U.S. to offer qualified custody for bitcoin and other digital assets; and has since carved out a niche powering custody for both institutions and affiliates interested in assets of all types.
"In 2016, we lead the way into digital asset custody, and that opened up the floodgates for a whole new crop of custodians, I expect this to be just the same. A unified account with market access and direct exposure to bitcoin will be the standard, not the exception in five years and I expect it will be because we lead the way with Choice," said Matt Jennings, Chairman at Kingdom Trust.
Kingdom Trust, who already powers over 100,000 retirement accounts quietly trialed a version of the direct crypto trading portion of the Choice platform with a select group of existing clients in Q1 and the early results had the average crypto trade at $13,000, with bitcoin being the highest volume (and having nearly double the average trade value).
For more information on the Choice platform or Kingdom Trust, please visiting RetireWithChoice.com, kingdomtrust.com or drop us an email at press@kingdomtrust.com.
About Kingdom Trust
Kingdom Trust is an independent qualified custodian regulated by the South Dakota Division of Banking. We specialize in unique and innovative custody solutions for individual investors, investment sponsors, family offices, advisory firms, broker-dealers and various other investment platforms. This approach has led to us powering more than 100,000 retirement accounts, and providing custody for more than $13 billion worth of assets. We pride ourselves on friendly service and our flexible platform, which holds more than 20,000 unique assets and empowers the most curious, creative investors.
In addition to retirement accounts, Kingdom Trust supports some of the biggest names in finance, providing a range of professional custody and escrow services for hundreds of institutional clients. From investment advisors and advisory firms to broker-dealers or fund managers, we help firms scale their business by making alternative assets accessible to clients, opening up private offerings to retirement investors and removing the complexities of custody.
Media Contact:
Fitch Carrere
fcarrere@kingdomtrust.com
SOURCE Kingdom Trust
