From Digital Journal
The Kingdom Trust Company, an institutional alternative asset custodian, and Bancbox, a financial technology innovator, announced the formation of a strategic partnership to streamline the crowdfunding and peer-to-peer lending platform experience for the IRA investor. This partnership will greatly enhance the IRA investor’s experience using the KingdomCrowdIRA.
Scott Foster (SVP of Business Development) of Kingdom Trust elaborated on the announcement: “This partnership will create a paradigm shift in self-directed IRA investing on portals and platforms. It’s our belief that crowdfunding and peer-to-peer lending portals and platforms will continue to migrate to fully-automated and integrated escrow, compliance and custody solutions. This partnership will not only accelerate fintech innovation in crowdfunding, but it will also open the door to other areas of financial services.”
Bancbox co-founder and CEO Sanj Goyle said, “In addition to being the payments and compliance engine of choice powering 70-plus crowdinvesting and private placement portals, we see partnerships like this one as a means to bring liquidity to these portals and continue to create win:wins in this new ecosystem.”