NEW YORK, June 14, 2018 /PRNewswire/ -- Global crypto asset platform itBit announced today it has received approval from the New York State Department of Financial Services (NYDFS) to offer expanded trading and custody services for Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Stellar Lumens (XLM). itBit will start immediately offering custody, escrow and OTC trading services for these new assets, with platform exchange trading to follow.
itBit is the first NYDFS-approved Trust company to offer trading and custody services for crypto assets, the #2 US-based Bitcoin trading platform by volume and a preferred and trusted partner for many financial institutions.
"This is an important milestone for itBit as we create a broader platform for crypto asset investors. We are committed to the growth and evolution of this ecosystem and DFS approval allows us to offer more trading and custody services across a wider range of crypto assets," said Chad Cascarilla, CEO of itBit. "Regulatory oversight and security have always been at the forefront of building our platform. We are thrilled to be able to offer these new services to our customers."
"By gaining this regulatory approval, we are now able to open the doors for individuals and institutions to access crypto assets beyond just Bitcoin," said Andrew Chang, COO of itBit. "This is a critical moment that will enable greater participation in these assets in a regulated and safe manner."
itBit now offers 5 of the 10 largest crypto assets, representing two-thirds of the total crypto asset marketplace.
itBit is a global regulated crypto asset platform offering institutional and retail investors a powerful platform to buy, sell, and custody crypto assets. By combining Silicon Valley innovation with Wall Street expertise, itBit is building next-generation crypto asset products and services. itBit is institutional-grade, compliant and authorized to serve customers around the world.
Co-founded in 2012 by CEO Charles Cascarilla, itBit has offices in two key financial markets, New York and Singapore, enabling global customer service around the clock. itBit is venture-backed by RRE Ventures, Canaan Partners, Liberty City Ventures and angel investors including Jay W. Jordan II and James Pallotta.
To learn more or to open a trading or custody account visit itBit.com.