sFOX, the leading digital asset prime broker and custodian, today announced new comprehensive bankruptcy protections for its clients' assets under custody in the SAFE Trust Company digital asset custody platform, sFOX SAFE, revolutionizing the standard for an acceptable level of digital asset security and enabling all investors to secure their investments by offering custody free of charge up to $250,000.
sFOX SAFE is the flagship product of SAFE Trust Company: the first regulated digital asset public trust company chartered by the State of Wyoming Division of Banking.
The addition of bankruptcy protections to sFOX SAFE represents the culmination of a fully legal, technical, and operational overhaul of SAFE Trust Company to fully isolate client-owned funds from company assets to the most rigorous standards demanded by modern investment professionals in the arena of finance.
With sFOX SAFE, digital assets under custody remain the property of the client, a major shift in how digital assets are managed in the industry. The ownership of such digital assets is not transferred to SAFE Trust Company, which only holds such assets in bailment and on behalf of the client-a structure uniquely provided by Wyoming law.
sFOX SAFE was built on the belief that safe digital asset custody is a universal right. Therefore, it is offering its bankruptcy-protected digital asset custodial services at no cost to all eligible clients for up to $250,000 of digital assets under custody.
This service will provide added security to all professionals with exposure to digital assets, whether they choose to secure their entire portfolio in sFOX SAFE, use sFOX SAFE to safeguard client assets in their own digital asset business, or simply place $250,000 of digital assets in an account for protected custodial diversification.
"No asset manager should have to sacrifice peace of mind in order to trade or store their assets," said Akbar Thobhani, Founder of sFOX Inc. and SAFE Trust Company.
"For too long, even sophisticated digital asset managers have accepted the inevitability of an operational gap between traditional asset management and digital asset management. We're bridging this gap by offering our clients the level of secure service they might take for granted in other markets, and we don't believe they should settle for any lower standard."
sFOX SAFE offers a suite of features to ensure the operational security of clients' assets, including treasury management and workflow automation, where enterprises can establish multi-party approval policies for administration and transaction activity. SAFE Trust Company maintains the highest security practices, and digital assets are protected with multi-layered security.
Its SOC II-compliant service undergoes regular third-party auditing and testing, providing clients with unparalleled protection for their assets, including an additional $200 million in insurance coverage to protect against the risks peculiar to digital assets, such as the physical loss of private keys from various covered events.
(Note that neither this insurance, nor bankruptcy-remote custody, is an instance of, or equivalent to, FDIC insurance.)
Bankruptcy-remote custody is the latest addition to sFOX's end-to-end digital asset storage and trading solution. In conjunction with SAFE Trust Company's custody solutions, sFOX's prime brokerage platform offers a seamless transaction experience from wallet funding, to trading, to withdrawals.
The company aims to eliminate the perceived tradeoff between efficiency and security in crypto storage and trading by combining unprecedented digital asset custody protections with real-time access to all major global liquidity providers.
