FAQ - How are my crypto assets stored and secured?

How are my digital assets secured with iTrustCapital?

iTrustCapital is a software platform that utilizes a third-party Qualified Custodian, Fortress Trust, to custody client assets. Fortress Trust is a regulated state-chartered trust company. As Qualified Custodian, it holds client assets in individual retirement accounts solely for the benefit of each client. 

Fortress utilizes proprietary technology to custody digital assets, including BitGo and Fireblocks.

Highlights include:

• Multi-Party Computation (MPC)
• Offline Cold Storage
• Providers undergo regular security and financial audits by external firms and have been awarded SOC 2 Type II certifications
• Commercial Crime Insurance Policy

What would happen to my IRA and assets if iTrustCapital and/or the Qualfied Custodian were to go out of business?

Fortress Trust and iTrustCapital maintain a business continuity plan to address business wind-down and account transitions if needed. In the event that a wind-down is required, clients would retain ownership and control of their accounts and assets and would be required to transfer their funds to another Qualified Custodian. Client assets are never mixed with operating funds and therefore are not available to satisfy the obligations of iTrustCapital or Fortress Trust.

Do you lend against my assets?

Neither Fortress Trust nor iTrustCapital lends against client assets. iTrustCapital never takes custody of client assets and client assets are never mixed with operating funds. Client assets are secured and stored with third-party institutional storage providers, as outlined by our Terms of Service in "Section 4.b." - 

Storage: Digital Currencies are stored by the Qualified Custodian using an institutional cryptocurrency storage wallet provider(s), and precious metals are physically held at the Royal Canadian Mint with ownership managed via a secure blockchain distributed ledger. 

To learn more about iTrustCapital’s relationship with its clients, see our Terms of Service here.

Who is iTrustCapital regulated by?

iTrustCapital is a software platform that allows clients to buy and sell cryptocurrency and precious metals in their Self-Directed IRA. iTrustCapital is not an exchange, custodian, trust company, licensed broker/dealer, or investment advisor, and therefore is not directly regulated as such. Our Terms of Service govern our relationship with our clients. Fortress Trust, on the other hand, is regulated as a state-chartered trust company and therefore subject to regulatory oversight.

Are my funds held in USD FDIC insured?

iTrustCapital's third-party Qualified Custodian, Fortress Trust, utilizes an FDIC-insured bank, Cross River Bank, to deposit its clients' USD. Deposit accounts are insured up to the maximum permitted by federal regulation.

It must be noted that FDIC insurance applies to USD assets held by US FDIC-insured banks and is intended to protect depositor money in the event of a bank failure. It does not protect your money or assets from losses relating to your investment decisions or market conditions.