iTrustCapital Partners with Coinbase Custody for Enhanced Crypto IRA Services
TL;DR
iTrustCapital partners with Coinbase Custody to provide digital asset services, gaining a competitive advantage in the crypto IRA sector.
The partnership allows iTrustCapital to offer secure storage and liquidity for digital assets to its large retail client base.
The partnership aims to make the world better by providing a safe and secure way for investors to allocate assets in a volatile global market.
The growth and adoption of cryptocurrencies, along with institutional support, are making Bitcoin reach new highs in a globally uncertain landscape.
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In a move that underscores the growing mainstream acceptance of cryptocurrencies, iTrustCapital has announced a partnership with Coinbase Custody to provide digital asset custodial and liquidity services for its retail client base within the tax-advantaged crypto IRA sector. This collaboration brings together iTrustCapital's focus on low-cost, secure, tax-advantaged retirement investing with Coinbase's reputation as one of the largest and most trusted names in the digital asset arena.
The partnership comes at a time when the appeal of decentralized finance is rising, with KPMG estimating that as of May 2023, decentralized finance represents $47.479 billion of liquidity stored across various blockchains. The recent surge in Bitcoin prices, coupled with anticipation of further economic stimulus and potential interest rate reductions, indicates a growing investor appetite for cryptocurrency as part of a diversified portfolio.
For iTrustCapital, which supports over 50,000 client-funded accounts and manages billions in retirement assets, the partnership with Coinbase Custody could significantly enhance its platform capabilities. The company expects to offer improved access to a wide array of digital assets, enhanced liquidity, and secure asset storage. This move aligns with the broader trend of institutional investors increasing their digital asset allocations, with projections suggesting a rise to 7% of portfolios by 2027.
The significance of this partnership extends beyond the immediate benefits for iTrustCapital's clients. It represents a maturing of the cryptocurrency market, where established financial services providers are increasingly integrating digital assets into traditional investment vehicles. This trend could lead to greater stability and credibility for cryptocurrencies as an asset class, potentially attracting more conservative investors who have been hesitant to enter the market.
As the cryptocurrency landscape continues to evolve, partnerships between platforms like iTrustCapital and institutional-grade service providers like Coinbase Custody may become increasingly common. These collaborations could play a crucial role in bridging the gap between traditional finance and the burgeoning world of digital assets, ultimately shaping the future of investment and retirement planning in an increasingly digital economy.
Curated from News Direct
