Kingdom Trust Appoints Fidelity Digital Assets(SM) To Power Bitcoin Custody For Choice Retirement Accounts

SIOUX FALLS, S.D., July 14, 2020 /PRNewswire/ -- As a result of an exclusive institutional agreement between Kingdom Trust and Fidelity Digital Assets, individual retirees now have the option to safeguard their tax-advantaged bitcoin with Fidelity Digital Assets via a Choice by Kingdom Trust retirement account.

"Personally, I've grown to trust the Fidelity family of brands as an individual investor in the traditional markets and now the bitcoin in my Choice retirement account can be kept secure by Fidelity Digital Assets. For anyone who was considering bitcoin as part of their retirement portfolio, but was waiting for the infrastructure to mature and for familiar names to enter the space, that day is today," says Ryan Radloff, CEO of Kingdom Trust.

As part of the agreement, Choice members who opt for this solution will not have to manage their own private keys but will choose to have bitcoin held in cold storage exclusively by Fidelity Digital Assets, a leading provider of digital asset custody and execution services to institutional investors, and digital asset business of Fidelity Investments which administers $8.1 trillion in customer assets.

"Since our market entry less than two years ago, we've seen significant progress in the infrastructure supporting investors in digital assets, and an evolution in the range of investors adopting digital assets into their portfolios," said Christine Sandler, Head of Sales and Marketing at Fidelity Digital Assets. "We welcome innovation in this space and progressive offerings like the Choice retirement account that enable investments in digital assets and ultimately supports the maturation of the entire ecosystem."

While Fidelity Digital Assets publicly launched their bitcoin custody service for institutional clients in late 2018, this is notably the first time that owners of self-directed IRA accounts who invest in bitcoin will be able to benefit from the infrastructure Fidelity Digital Assets has developed as a result of the exclusive custody agreement with Kingdom Trust.

"Bitcoin held in a tax-advantaged Choice retirement account, with cold storage provided by Fidelity Digital Assets is here. This is a remarkable day for bitcoin and retirement savers who demand choice - we're humbled to be a part of the solution, said Ryan Radloff, CEO of Kingdom Trust."

In addition to the cold-storage option announced today, Choice offers memberships which cover the full spectrum of risk from holding your own private keys, to using your bitcoin to subsidize a free account.

For more information on the Choice platform or Kingdom Trust, please visit us at RetireWithChoice.com, kingdomtrust.com or drop us an email at [email protected]. 

About Kingdom Trust 

Kingdom Trust is an independent qualified custodian regulated by the South Dakota Division of Banking. We specialize in unique and innovative custody solutions for individual investors, investment sponsors, family offices, advisory firms, broker-dealers and various other investment platforms. This approach has led to us powering more than 100,000 retirement accounts, and providing custody for more than $13 billion worth of assets. We pride ourselves on friendly service and our flexible platform, which holds more than 20,000 unique assets and empowers the most curious, creative investors. 

In addition to retirement accounts, Kingdom Trust supports some of the biggest names in finance, providing a range of professional custody and escrow services for hundreds of institutional clients. From investment advisors and advisory firms to broker-dealers or fund managers, we help firms scale their business by making alternative assets accessible to clients, opening up private offerings to retirement investors and removing the complexities of custody.

Media Contact:
Fitch Carrere
[email protected]

About Fidelity Digital Assets

Fidelity Digital Assets offers a full-service enterprise-grade platform for securing, trading and supporting digital assets. A business of Fidelity Investments, one of the world's largest and most diversified financial services providers with more than $8.1 trillion in client assets under administration, Fidelity Digital Assets combines the operational and technical capabilities of the broader Fidelity organization with dedicated blockchain expertise to deliver a completely new offering for institutional investors. Learn more at http://fidelitydigitalassets.com.

Media Contact:
Arlene Roberts
617.392.2840
[email protected]

SOURCE Kingdom Trust