2 years ago
Cryptocurrency custody steadfast Knox is joining forces with Tetra Trust Company, a qualified custodian successful Canada.
The statement is astir bringing unneurotic Tetra’s regulated presumption with definite areas of Knox’s crypto custody expertise, such arsenic its security cover – and is not an acquisition successful the accepted sense, according to Knox CEO Alex Daskalov.
“While Tetra Trust is acquiring the galore carnal elements of our custodial stack to tally nether the Tetra Trust roof, this is not an acquisition of Knox itself, which volition stay autarkic and focused connected advancing institutional-grade custodial exertion and security coverage,” Daskalov said via email.
Canada is an absorbing case, since it's 1 of the starring jurisdictions erstwhile it comes to physically-settled crypto products, but has lagged successful presumption of the availability of home qualified custody options, Daskalov pointed out.
“Knox got immoderate broad security policies that hadn’t been seen elsewhere, but the qualified custody spot eluded us, and it's a reasonably gargantuan task to get that,” Daskalov said. “So, from our perspective, it was ‘let’s absorption connected technology’ alternatively than acquiring a regulated designation, and truthful we are present joining forces and mounting up an insured qualified custodian.”
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