Crypto IRA integrates Coinbase Custody as trade volumes top $1.5B

Coinbase Custody will be used to further secure the cryptocurrency holdings of iTrustCapital clients.

Cryptocurrency IRA and 401(k) provider iTrustCapital has integrated Coinbase Custody into its platform, offering retirement planners more robust security for their digital-asset investments. 

The integration means iTrustCapital clients will have their assets secured by Coinbase Custody’s cold storage, offering another layer of protection from attacks. Coinbase Custody maintains both SOC1 Type II and SOC2 Type II certifications, which means it undergoes regular financial audits.

Assets held with iTrustCapital are also backed by a commercial crime insurance policy valued at $255 million, the company said.

The added protection applies immediately to all current iTrustCapital IRA and 401 (k) clients.

Coinbase is an industry stalwart when it comes to custodying digital assets. As Cointelegraph reported, the digital currency exchange custodied more than 10% of the combined crypto market capitalization as of March 2021.

Todd Southwick, iTrustCapital’s CEO, said his firm has onboarded “thousands of new active monthly users,” with total assets under management topping $1 billion earlier this year. Total trade volumes have also topped $1.5 billion since the start of 2021.

“Going forward we’re well-positioned to capitalize on the growing demand for investors to include digital assets and physical gold in their retirement accounts,” he said.

Related: From Director of the United States Mint to the Very First Bitcoin IRA Customer

The iTrustCapital platform allows U.S.-based investors to incorporate cryptocurrency investments into their retirement portfolios. The platform currently supports purchases of Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Cardano (ADA), Polkadot (DOT) and many other cryptocurrencies, as well as physical gold and silver.

Investors have seen the price of Bitcoin and other digital currencies surge to new highs this year. Growing institutional adoption and the presence of more secure onramps to digital assets mean more retirement planners are looking to dabble in the emerging asset class. This trend is likely to continue as investors explore inflation-beating strategies in the wake of the Covid-19 pandemic.