Bitpanda has announced the acquisition of financial technology firm Trustology to create an institutional-standard cryptocurrency custody platform.
Trustology, which has been renamed Bitpanda Custody following the deal, will take custody of Bitpanda’s assets from its multiple businesses. The wallet is poised to be the largest digital asset custodian globally.
The launch of Bitpanda Custody marks the initial steps in setting up a brokerage service under Bitpanda Pro. Bitpanda Pro aims at cutting custody costs to zero for active traders.
Bitpanda Pro CEO, Joshua Barraclough, notes that the firm plans to introduce new products to the market leveraging Trustilogy’s capabilities including DeFi.
The Co-founder and CEO of Bitpanda, Eric Demuth, lauds the acquisition as important in creating a fully licensed digital investment platform.
Trustology is a cryptocurrency custodian platform based in London and regulated by the Financial Conduct Authority.