Deep Custodian Limited has been approved for the Hong Kong Trust or Company Service Provider License (TCSP License No. TC009487), enabling it to legally provide custody services for crypto assets, including Bitcoin (BTC) and Ethereum (ETH). This licensing system, in place since March 2018, ensures compliance with regulatory frameworks incorporating principles from traditional finance, such as compliance assurance, KYC, anti-money laundering, and secure hot and cold wallet mechanisms. Deep Custodian plans to use advanced security technologies to offer secure and compliant asset custody services for both individual and institutional clients.
In recent developments, Deepcoin Labs received approval for the Dubai DMCC license, establishing a $100 million fund for Web3 innovation. Additionally, Deepcoin became the seventh overseas cryptocurrency exchange to gain CODE compliance in South Korea, adhering to the cryptocurrency Travel Rule regulations. These achievements highlight Deep Custodian’s commitment to regulatory compliance and secure asset management in the evolving crypto landscape.
Source: prnewswire.com
