Coinbase will be used to secure cryptocurrency IRA

Crypto holdings of iTrustCapital integrates Coinbase custody
  • Coinbase Custody has been integrated to the platform of iTrustCapital
  • Now the assets of the clients of the firm will be secured by the qualified custodian
  • With the Coinbase Custodian, the firm is set to capitalize on the growing demand for investors to include cryptos and traditional gold
  • Following the current scenario, iTrustCapital could soon witness a growth in its clients

Coinbase is one of the major cryptocurrency exchanges globally. The digital assets exchange’s custodian, Coinbase Custody, has been integrated to the iTrustCapital’s platform. The custodian is a qualified one that operates as a standalone, independently-capitalized business. iTrustCapital is the provider of crypto asset IRA and 401k. Indeed, now the custodian will help to secure the assets of the clients of the cryptocurrency provider. Hence, the retirement planners can now have more robust security for their cryptocurrency investments.

What does the latest Coinbase Custody integration aim for?

iTrustCapital has integrated Coinbase Custody to its platform. The integration will now help secure the virtual assets of the iTrustCapital users. Notably, the custodian will secure the assets by its cold storage. The aforementioned factor will help offer another layer of protection from attacks to the users of iTrustCapital.

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On the other hand, the qualified custodian maintains both SOC1 Type II and SOC2 Type II certifications. Such certifications help the Coinbase Custody undergo regular financial audits. Furthermore, it is revealed that the integration for protection has been applied immediately to both IRA and 401k clients.

Why did iTrustCapital choose Coinbase’s custody?

iTrustCapital is the leading platform that provides IRA / 401k cryptocurrency for retirement accounts. On the other hand, Coinbase has been considered as the industry stalwart when it comes to custodying virtual currencies. According to a report shared by the CoinTelegraph, since late Q1 2021, the custodian has custodied more than 10% of the market cap of the entire crypto market. 

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According to Todd Southwick, the CEO of the crypto IRA and 401k provider, the firm has on boarded thousands of new active monthly users. In the current scenario, the firm has a total of $1 billion worth assets. Additionally, Todd mentioned that with the Coinbase Custodian, the firm is set to capitalize on the growing demand for investors to include cryptos and traditional gold.

iTrustCapital could witness more retirement planners

iTrustCapital is currently allowing investors based in the United States to incorporate digital asset investments into retirement portfolios. In the current scenario, the firm allows its clients purchase cryptocurrencies alongwith physical precious metals. Such metals include gold and silver.

However, since the beginning of this year, BTC has seen tremendous growth. Moreover, the reason behind its growth is its nature as a store of value. Several institutions have adopted the asset. Notably, the presence of such onramps to virtual currencies mean more retirement planners are seeking to dabble in the crypto market.

According to few experts in the cryptosphere, the adoption trend of Bitcoin will continue, as several investors have found the asset class as an inflationary hedge.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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