Crypto equity investing platform BnkToTheFuture switches to First Digital Trust
BnkToTheFuture, a global online investment platform and digital asset securities business, is moving its clients' assets to new trust partner, First Digital Trust (FDT), to provide additional protections to client funds.
“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. 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,” says Simon Dixon, CEO of BnkToTheFuture, the largest online investment platform boasting over 90,000 high net worth bitcoin and fintech investors.
The FDT team, who have been experts in trust, custody and asset servicing since 1992, will provide custody of client’s digital assets and traditional fiat currencies under a fiduciary structure where – unlike a traditional banking relationship – the funds cannot be used by the custodian to make investments.
The move marks an important milestone in strengthening trust for investors as the fragile reality of traditional banking value-chain becomes more evident.
“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. We want to educate people about that exposure, as well as help them understand the long-term advantages of holding assets in a trust,“ says Vincent Chok, CEO of First Digital Trust.
BnkToTheFuture 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.
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 offers greater legal ownership over assets as once held in a trust, assets cannot be lent out without the clients’ permission.
BnkToTheFuture enables users to make equity investments in the most innovative and exclusive fintech and crypto companies in the world, with the investment minimum beginning at USD1,000.
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.