Bitpanda Acquires Crypto Custodian Trustology | Modified
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Cryptocurrency exchange Bitpanda has acquired the Trustology custodian for an undisclosed sum to offer users "stronger safeguards."

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The company added in a blog announcement that with Trustology it will commit to offset custody fees, bringing them down to zero for users. Although no financial terms of the deal were revealed, Bitpanda noted that the acquisition allows it to perform regulated custodian services in the UK in addition to the EU.

Trustology said in a press release that Bitpanda Custody will initially take custody of Bitpanda's own assets across its retail, institutional and whitelabelling businesses.

"Whether you are a service provider using our scalable, white-labelled high-performance wallet automation platform, a DeFi institutional investor using our bespoke integrations to access DApps or breakout features like DeFi Firewall and transaction decoding, or a token issuer looking to remove barriers to purchase," said Trustology CEO, Alex Batlin.

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In August last year, Bitpanda raised $263 million in a Series C round led by Peter Thiel's Valar Ventures. The Vienna-based cryptocurrency exchange also raised capital from Alan Howard, REDO Ventures, LeadBlock Partners and Jump Capital. The latest funding round brought Bitpanda's valuation at the $4.1 billion mark.

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