Zcash [ZEC], Stellar Lumens [XLM] added by Kingdom Trust among seven other major coins 18188
News
Roshni Vayyapuri
Jul 11, 2018 at 8:03 PM
Kingdom Trust has announced recently the addition of Zcash (ZEC) and Stellar Lumens (XLM) to its list of acceptable cryptocurrency investments. According to the sources, custodian regulated by the South Dakota Division accepts 9 cryptocurrencies including ZCash and Stellar Lumens, Bitcoin (BTC), Bitcoin Gold (BTG), Ethereum (ETH), Bitcoin Cash (BCH), XRP (XRP), Ethereum Classic (ETC), and Litecoin (LTC).

Kingdom Trust’s official website claims that they have over $12 billion in assets under custody and service 100,000 clients. The company believes that they fulfill a huge gap in the market of cryptocurrency custody solutions.

Kingdom Trust is one of the leading digital investing space with many years of experience. The platform doesn’t endorse any individual investment advisor or investment sponsor and they don't endorse any investment product.

See also: Ripple, Bitcoin, Ethereum, Cardano, Dash, Litcoin are here to stay: JPMorgan internal report

BitGo announced in January 2018 that they are willing to acquire Kingdom Trust because of the potential the firm has to attract as much as $20 billion from institutional investors. According to sources, BitGo mentioned that it was “seeking a charter to build BitGo Trust,” a “new regulated qualified custodian.” But BitGo was seeking for a charter to design and build BitGo Trust and so it would no longer acquire Kingdom Trust. But they had received approval for the acquisition from Kingdom Trust.

Product Manager at BitGo, Robin Verderosa, said,“We spent a lot of time over the course of this working with customers because ultimately that’s who we’re going to be serving and we realized they would be best served by a custodian who was entirely focused on their assets, so our focus has been to create a fully qualified independent digital custodian.”

Last week Stellar introduced its marketplace, StellarX, into the crypto space. The marketplace allows the easy exchange of fiat, bonds, cryptocurrencies and commodities. Wallet enabled trading, Deposit and withdrawal of off-chain assets are also featured in the platform.

Despite the bullish nature in the crypto market, Stellar's price is plunging. But recent rumors surrounding the Stellar Blockchain and IBM has increased the interest of investors and considers Stellar as a good investment. According to reports, IBM is planning to build a cryptocurrency on the Stellar Blockchain.

Image via Shutterstock

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