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Crypto Custodianship Grows Increasingly Important

In the end of 2017 as well as the first half of 2018, the cryptocurrency sector has seen an increased emphasis on both regulatory best practices, and the importance of crypto custodianship. The issue of crypto custodianship ultimately caught mainstream attention following a blog post by Coinbase CEO Brian Armstrong last year. “By some estimates there is $10B of institutional money waiting on the sidelines to invest in digital currency today,” Armstrong said. “When we speak with these institutions, they tell us the number one thing preventing them getting started is the existence of a digital asset custodian that they can trust to store client funds securely.”

Major technology platforms and mainstream financial institutions alike have begun to take note and capitalize on this major opportunity. Let’s take a look at some of the major players.

Coinbase Launches Coinbase Custody

Coinbase announced the launch of Coinbase Custody in late 2017, and announced that it was officially open for business in July 2018. With the mission to make digital currency investment accessible to every eligible financial institution and hedge fund in the world, Coinbase Custody combines its cold-storage solution, comprehensive phone support and dedicated account representatives, insurance (in some cases), and more in order to a be a trusted solution for institutional investors.

“The next step to accelerating the world’s adoption of digital currencies is to unlock the institutional money preparing to enter the space,” Armstrong said, and with Coinbase Custody’s robust list of offerings, it looks as if it is in the process of doing just that.

Goldman Sachs Throws its Hat into the Crypto Custody Game

Sources from Goldman Sachs have revealed that the bank is seriously considering a custodial service for cryptocurrency investment funds. “In response to client interest in various digital products we are exploring how best to serve them in this space. At this point, we have not reached a conclusion on the scope of our digital asset offering,” a spokesperson at Goldman Sachs told Bloomberg.

The bank, which announced the launch of a Bitcoin trading platform earlier this year, appears to be warming up to Bitcoin, especially given that David Solomon will assume the role of CEO at the end of September. Known for expressing a more positive attitude towards crypto than some other mainstream finance leaders, Solomon has said, in regards to crypto, that the bank must “evolve its business and “adapt to the environment.”

While Goldman Sachs’ plans to launch a custodial service are still in the works, Solomon’s, tech-savvy and forward-thinking approach indicates that such an initiative is likely to launch in the near future.

CBOE’s VanEck SolidX Bitcoin ETF Application Offers Custodianship and Comprehensive Insurance Plan

In late June, the CBOE filed an application with the SEC to open the world’s first Bitcoin ETF. While the SEC has recently rejected a string of Bitcoin ETF applications, many are optimistic that CBOE’s application will be accepted, as it addresses many of the current pain points in the marketplace surrounding custodianship and insurance. SolidX would handle custody of Bitcoin using a cold storage solution, and the ETF would also offer a comprehensive insurance policy that “will carry limits of $25 million in primary coverage and $100 million in excess coverage, with the ability to increase coverage depending on the value of the bitcoins held by the trust.” With such extensive safeguards set in place, many believe that the CBOE application should be accepted. In the event that it does, it seems very likely that massive increase of institutional investors will be drawn to the space.

“I believe security is the fundamental pillar for the industry to continue existing. It’s paramount for crypto and blockchain’s survival,” Binance CEO ChangPeng Zhao said in an interview with Forbes this year. Ultimately, after reports of hacks and scams in the crypto sector, it seems like a natural progression for there to be an increased emphasis on accountability and security in the space.  Offering crypto custodianship appears to be a necessary response.


Goldman Sachs’ Next CEO is Big on Crypto

Now that David Solomon has been confirmed as the new CEO of Goldman Sachs, people who buy bitcoin can expect to see some changes in how the financial institution approaches investments in cryptocurrencies. The change in leadership could also create a ripple effect that influences how other institutions, including the government, view non-fiat currencies like bitcoin.

Goldman Sachs Already Has Some Investments Connected to Bitcoin

During a conversation with Bloomberg, Solomon mentioned that Goldman Sachs already has investments connected to bitcoin in the form of publicly-traded derivatives. The new CEO then revealed that Goldman Sachs is “clearing some futures around Bitcoin, talking about doing some other activities there…”

Some of the bank’s cryptocurrency investments came at the urging of investors who want to explore new opportunities to earn money. The existing investments, however, shouldn’t come as a surprise given that former Goldman Sachs CEO Lloyd Blankfein held a cautiously optimistic view of emerging currencies. While Jamie Dimon, CEO of JPMorgan Chase, called bitcoin a “fraud” and stated that he wouldn’t “talk about Bitcoin anymore,” Blankfein admitted that he had marginal knowledge of the currency and believed that his lack of experience doesn’t reflect negatively on decentralized currencies.

Dimon, by the way, later backtracked on his statement, saying that he regretted calling bitcoin a fraud and admitting that blockchain technology was real. In fact, JPMorgan Chase launched a blockchain-based system capable of reducing the amount of time that it takes to verify global payments from weeks to hours.

Change in Leadership Creates Opportunities for Innovation

Although Blankfein deserves applause for his position, it often takes a change in leadership for large corporations to explore the latest innovations. Solomon seems just like the type of person willing to challenge preconceptions and invest in future blockchain innovations. The 56-year-old investment banker also performs under the name DJ D-Sol. Most of his musical work falls into the electronic dance music (EDM) genre, which suggests that he’s more familiar with technology than the average banker.

Don’t expect Solomon to make sweeping changes, though. As an investment banker, he understands the importance of caution. Each step that Goldman Sachs takes toward investing in crypto will face extreme scrutiny.But if a titan like Goldman Sachs shows that it finds value in crypto, it is likely other institutions will follow suit.

Could Goldman Sachs Influence the Government’s Position on Crypto?

The strong connection between Goldman Sachs and the United States government could also influence how political leaders view non-fiat currencies. If Solomon finds that cryptos offer rewarding opportunities for investors at Goldman Sachs,  his opinion, combined with the SEC’s emphasis on crypto regulation, could prompt many banks and government officials to see digital currencies in a more positive light.

No one knows exactly how the future will unfold. Putting a pro-crypto investment banker in charge of Goldman Sachs, however, shows shifting attitudes. These days, investing in cryptos isn’t just for young, tech-savvy people who spend their whole days on computers. Increasingly, cryptos are becoming valuable investments for all types of people.

Goldman Sachs has confirmed Solomon’s position as CEO, but he will not take the seat until October. Expect to hear a lot about what he plans to do once he takes over the company. A lot of organizations are looking to him to set the right tone to make cryptos even more mainstream.

The bitcoin ira logo sits on a field of white

[Press Release] Stellar Lumens is Now Bitcoin IRA’s Third Most Popular Cryptocurrency

SHERMAN OAKS, Calif.Aug. 8, 2018 /PRNewswire/ — Bitcoin IRA, the world’s largest and most secure cryptocurrency IRA platform that allows customers to purchase Bitcoin and other cryptocurrencies for their retirement accounts, is excited to announce that Stellar Lumens is now the company’s third most popular currency.

“We just launched Stellar Lumens and Zcash this past June, and it’s exciting to see both coins take off so quickly,” said Bitcoin IRA Chief Operating Officer Chris Kline. “With so much momentum in the crypto sector in recent months, I feel confident that the bull market is here to stay.”

To build upon the excitement surrounding the success of the Stellar Lumens launch, Bitcoin IRA put together a comprehensive eBook supplement titled 5 Reasons the Bull Market is Here to Stay: Redefining Retirement with a Bitcoin IRA. These include:

  • Increased Emphasis on Portfolio Diversification
  • Bitcoin ETFs on the horizon
  • Wave of institutional Adoption
  • Support from Silicon Valley
  • The transformational power of blockchain

Don’t miss out on this life-changing opportunity! Bitcoin IRA, the world’s first and largest cryptocurrency IRA platform that allows customers to purchase Bitcoins and other cryptocurrencies for their retirement accounts, to learn more about you can redefine your retirement and diversify your portfolio using cryptocurrencies. Call Bitcoin IRA today at (877) 936-7175.

About is the world’s largest and most secure cryptocurrency IRA platform that allows customers to purchase Bitcoins and other cryptocurrencies for their retirement accounts. The full-service solution includes setting up a qualified cryptocurrency account, rolling over funds from an existing IRA custodian, executing a live trade on a leading exchange and then moving funds into an industry-leading multi-signature digital wallet.

In 2017, has processed over $300 million in investments, gained more than 3,000 customers, and received more than 600 customer reviews. The company has been featured extensively in the media, with coverage in Forbes magazine, CNBC, and The Wall Street Journal, among other publications. is privately funded and based in Los Angeles.


[Press Release] Bitcoin IRA Adds Stellar Lumens and Zcash to its List of Cryptocurrencies

SHERMAN OAKS, Calif.June 19, 2018 /PRNewswire/ —, the world’s largest and most secure cryptocurrency IRA platform that allows customers to purchase Bitcoins and other cryptocurrencies for their retirement accounts, has announced it is adding leading coins Stellar Lumens (XLM) and Zcash (ZEC) to its list of available digital currencies. These new coins join’s other digital offerings including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC).

Stellar Lumens, a decentralized payment network and protocol, has caught the attention of the crypto community due to its unique cross-border transactions as well as its lucrative partnerships with mainstream companies such as IBM and Deloitte. So too has Zcash, the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.

“As the preeminent company for crypto retirement investments, we’re excited to meet the high demand for both Stellar Lumens and Zcash in the marketplace by making these coins available to customers looking to diversify their retirement portfolios,” said Chief Operating Officer at, Chris Kline. selected these coins based on a variety of factors including customer requests, overall marketplace acceptance, product development progress and regulation factors.

“Both Zcash and Stellar Lumens have established their influence in the competitive cryptocurrency space,” said Camilo Concha, CEO and co-founder of “Zcash’s zero-knowledge cryptography is a powerful solution to privacy concerns regarding visibility of transaction history. And Stellar Lumens, with its impressive partnerships, fast transaction times, and altruistic mission, has also established itself as a valuable currency to look out for.”’s customers benefit from an industry-leading security system and a $1 MillionConsumer Protection insurance policy that covers consumers on the transactional side from any internal cases of fraud or theft.

Consumers can learn more about and its new coin offerings at

About is the world’s largest and most secure cryptocurrency IRA platform that allows customers to purchase Bitcoins and other cryptocurrencies for their retirement accounts. The full-service solution includes setting up a qualified cryptocurrency account, rolling over funds from an existing IRA custodian, executing a live trade on a leading exchange and then moving funds into an industry-leading multi-signature digital wallet.

In 2017, has processed over $300 million in investments, gained more than 3,000 customers, and received more than 600 customer reviews. The company has been featured extensively in the media, with coverage in Forbes magazine, CNBC, and The Wall Street Journal, among other publications. is privately funded and based in Los Angeles.


[Infographic] Top 5 Cryptocurrency Scams

Until recently, the crypto world was relatively unregulated. Unfortunately, this drew an increase of bad actors to the sector. For novice consumers, it could be difficult to know who to trust. Fortunately, the industry has grown increasingly regulated in recent months, but there is still work to be done. Protect yourself and be on guard for these top 5 scams.

Silicon Valley Continues to Invest in Blockchain Technology

Like cloud computing, machine learning, and the internet of things, blockchain technology is on the cusp of transforming the tech world as we know it. IT research and analysis firm Gartner projects that blockchain will add $176 billion of business value by 2025, and then surge more than tenfold to $3.1 trillion by 2030.

Bitcoin and other cryptocurrencies are the most visible applications of blockchain right now, and major Silicon Valley investors are still eager to join the party. Tech venture capital firm Andreessen Horowitz recently announced that it would launch a new investment fund for cryptocurrencies, and PayPal co-founder Peter Thiel has reportedly invested as much as $20 million in Bitcoin.

Yet, the blockchain has serious promise well beyond crypto, and major tech companies are taking notice. IBM has partnered with the non-profit Sovrin Foundation to build a blockchain-based global identity network, helping to reduce fraud and improve trust online. Meanwhile, electronics giant Samsung is considering switching to a blockchain ledger for managing its supply chain, potentially slashing shipping costs by 20 percent.

Let’s take a closer look at three major tech companies that bet big on blockchain technology in recent weeks.


Amazon Web Services has already become one of the leading providers of cloud services, making it simple for even the latest tech-savvy businesses to enjoy all the benefits of the cloud. However, one of the barriers to greater blockchain adoption is that the technology has a steep learning curve.

This May, Amazon announced a new partnership with the blockchain startup Kaleido, so that AWS customers can find it easier to use blockchain in their own businesses. According to a statement released by AWS, the Ethereum-based SaaS (software as a service) Kaleido platform is intended to “help customers move faster and not worry about managing blockchain themselves.”


Facebook, too, is throwing its hat in the ring by launching a small team to explore blockchain technology. The team will be led by David Marcus, former president of PayPal and current vice president of Facebook’s Messenger division and will include staff from Facebook’s Instagram unit.

Although it remains to be seen how blockchain will align with Facebook’s business objectives, the most obvious use is within Messenger itself. Facebook already allows users to send and receive money during a chat, and the company may be looking to expand payment options to Bitcoin and other cryptocurrencies.


Not to be outdone, credit card processor Square is looking to more closely integrate Bitcoin payments into its payment platform. Since the company began allowing Bitcoin trading through its Cash mobile app in January, Square has sold a total of $34.1 million in Bitcoin.

Square founder and CEO Jack Dorsey, also the CEO of Twitter, has revealed his interest in Bitcoin on several occasions. In a recent interview, Dorsey said that he was a “huge fan” of Bitcoin, and hoped that it would one day become the “native currency” of the internet. The end goal, Dorsey said, would be to use the Square app to purchase a cup of coffee using Bitcoin, perhaps without the cashier even being aware of it.

I believe that both Bitcoin and the blockchain technology that powers it are changing the world today. To learn more about how you can diversify your retirement portfolio with Bitcoin and other cryptocurrencies, give one of our IRA specialists a call today at 877-936-7175.

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Bank of Tokyo and IBM come together for a Blockchain Venture

The exact measure of success for any technology is its ability to impact and transform traditional set-ups. This is exactly what makes Bitcoin and its underlying technology so valuable and hence they are being termed as disruptive. Blockchain technology has transformative potential and major financial institutions are trying to adopt the same so ease their process. This grand scale adoption has in turn made the adoption of currency viable and has driven up the value recently. Let’s look into a recent blockchain adoption story where IBM partnered with Bank of Tokyo for managing contracts on blockchain:

Bank of Tokyo, IBM and Blockchain:

Bank of Tokyo-Mitsubishi UFJ (BTMU) plans to begin managing its contracts on a blockchain-based platform. This platform relies on technology provided by the still in-development Hyperledger project and the design services of IBM. The two companies confirmed that the platform will manage service level agreements between BTMU and other third parties. IBM’s vice president of blockchain Ramesh Gopinath told that the first phase of building the platform is complete. This allows a detailed tracking of workflows within the Japanese bank. The second phase is now underway to connect workflows between companies.

Gopinath explained how the integration will work as follows:

“You capture the entire workflow all the way to a master agreement and special workflows for employees. If you capture the metrics that are relevant, hopefully in the new model there will be fewer disputes”

According to a release, IBM and BTMU will first trial the service by transacting with each other over the platform. BTMU intends to ultimately migrate to the new contract management platform by the end of fiscal year 2017.

Germany Energy Giant now accepts Bitcoin for payment:

German Energy giant backs bitcoin payments
German Energy giant backs bitcoin payments

Customers of one of Germany’s largest energy providers ‘Enercity’ can now pay their electricity bills with bitcoin, the company announced. One of the ten largest energy companies in Germany, ‘Enercity’ has a turnover of around 2.3 billion EUR. It provides energy and services for residential customers in the Hanover region, as well as for business customers throughout Germany. Enercity has cited increasing popularity of Bitcoin and its ability to “act independently of central institutions” as the reason for the decision. It said that Digital payment methods such as Bitcoin are becoming increasingly popular. Enercity therefore now allows bills to be paid with Bitcoin.

Thus with these advancements in implementing Blockchain and accepting Bitcoin payments, the prices sure are to be affected to a certain extent.