Crypto Equity Investing Platform BnkToTheFuture Moving Clients Assets To First Digital Trustbr>
Global online investment platform BnkToTheFuture is officially disconnecting ties from a traditional bank structure and moving its clients’ assets to digital asset custody provider First Digital Trust (FDT) as a new trust partner.
BnkToTheFuture is one of the largest global online investment platforms investing in FinTech, blockchain and crypto companies. The platform is said to have a network of over 85,000 qualified investors and has enabled compliant equity funding rounds for a variety of established crypto firms. Some of their portfolio companies include Coinbase, Bitpay, RippleLabs, Kraken, Bitfinex and over 100 more with strong support from leading innovators including Sir Richard Branson.
FDT is a technology-driven financial institution powering the digital asset industry and servicing FinTech innovators including blockchain clients, payment companies and virtual banks. FDT is the digital asset spin-off from Legacy Trust, who have been experts in trust, custody and asset servicing since 1992.
In a press release, BnkToTheFuture said that it is integrating its clientbase with FDT’s custody services to provide additional protection from global economic disruption. BnkToTheFuture will use FDT’s FinTech-friendly trust structure to enable clients to keep assets perpetually in a trust for inheritance planning while being tax efficient. A trust structure reportedly offers greater legal ownership over assets as once held in a trust, assets cannot be lent out without the clients’ permission.
“We’ve been through a lot of banking partners, and we’re excited to finally have a partner that understands the fundamental risk of a bank,” said Simon Dixon, CEO of BnkToTheFuture. “We are forecasting a systemic risk event in banking, and integrating with FDT’s custody services provides our users with additional protection from global economic disruption.”
According to BnkToTheFuture, it made the decision to integrate with FDT’s unique institutional-grade custody solution when the team began building out their retirement plan investment products for bitcoin and crypto assets to be launched later this year.
“With a financial crisis looming people should know that there is a way to protect their assets from the instability and exposure of risks of fractional reserve banking,” said Vincent Chok, CEO of First Digital Trust. “We want to educate people about that exposure, as well as help them understand the long-term advantages of holding assets in a trust.”