Hong Kong – July 13, 2023 – Aegis Custody, the only Hong Kong and US-qualified custodian that offers regulatory compliant solutions and custody services, today announced the launch of its in-custody fiat on/off ramping services. This offering enables Aegis’ clientele to to seamlessly trade in-custody funds with leading service providers such as B2C2 and Legend Trading.
Accessing cryptocurrency markets with fiat currencies has been a challenge for institutions due to regulatory compliance and risk management concerns. Through this launch, Aegis is bridging this gap and opening up new opportunities for institutions to participate in the cryptocurrency ecosystem while adhering to necessary regulations. By leveraging Aegis’ proprietary custody solution, Aegis Vault, as a custodial gateway, users gain access to a wide range of Web3 and blockchain activities through carefully selected service providers. This empowers clients to effectively manage their funds while held in-custody, simplifying the trading process by streamlining on/off ramping procedures, significantly reducing administrative burdens and the complexity typically associated with transferring funds between fiat and crypto. In addition, Aegis’s integration with select service providers opens a broader range of liquidity options, enabling efficient execution of transactions.
“At Aegis, we are dedicated to contributing to industry growth, stability, and institutional adoption,” said Serra Wei, founder and CEO of Aegis Custody. “By securely integrating our custody platform with fiat on/off ramping services, we are empowering our clients to confidently engage in crypto trading and foster a more trustworthy ecosystem. This launch demonstrates our commitment to delivering innovative solutions to our valued users, and making the crypto industry more accessible and reliable for its participants.”
As global regulatory requirements evolve, institutions are increasingly challenged to maintain compliance. Hong Kong’s recent virtual asset trading license requirement is evidence of this trend. With the ability to trade in-custody funds through Aegis, institutional and retail clients can meet the requirements imposed by license changes without compromising their trading capabilities. Aegis, serving as both a custodian in Hong Kong and a qualified custodian in the United States, seizes the opportunity to facilitate asset transfers to operating jurisdictions while ensuring security and compliance.
Aegis Custody has a long-standing commitment to maintaining the highest level of security across its operations, which support an abundant ecosystem of 300+ tokens through leading service providers like B2C2 and Legend Trading. It also supports the trading of USDC on Ethereum, Algorand, Solana, Stellar and TRON. The company has already obtained the Trust and Company Service Provider license (TCSP), issued by the Hong Kong Companies Registry, enabling it to provide clients with secure digital asset storage services in Asia, streamlining the process of applying for the new virtual asset trading platform license. Beyond this, it has proven its commitment to institutional-grade security practices by receiving SOC 2 Type 1 and 2 attestation, and remains one of few qualified custodian under the latest SEC safeguarding requirements through its entity, Aegis Trust.
Learn more about Aegis Custody and its extensive suite of Web3 and blockchain services at: https://www.aegiscustody.com/
About Aegis Custody
Aegis Custody is a US-qualified custodian through its entity Aegis Trust. The company offers institutional-grade blockchain-based custodial solutions for managing digital asset tokens, including DeFi, cryptocurrencies and NFTs. Aegis Custody services asset owners and investors on a global scale and offers client-centric technology infrastructure and regulatory compliant solutions. To help provide a sense of security for clients, Aegis Custody offers an additional layer of safety with an insurance policy from market-leading global specialty (re)insurer, Canopius, via Lloyd’s of London, making Aegis Custody one of the only custodians to offer specie insurance for NFTs. This policy, along with its SOC2 Type 1 & Type 2 attestation, empowers Aegis Custody to safeguard a broad range of digital assets for institutional investors, hedge funds, and exchanges, facilitating long-term industry growth and supporting blockchain ecosystems.
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