The Digital Asset Custody Company (DACC), whose purpose is to provide educational support to institutional investors on cryptocurrencies, has added Stellar XLM to its digital portfolio as a measure to increase the number of financiers.
Generally, the DACC has a portfolio of 90 crypto assets and 10 blockchain projects, meaning that institutions are able to obtain investment advice about one or more digital currencies supported by the company.
According to a statement published by PR Newswire, the Chief Product Officer at DACC, Matthew Johnson claimed:
“With a market cap in the billions of dollars, XLM has become one of the more widely-held cryptocurrency investments in today’s market – necessitating a secure, trusted solution for institutions that require a custodian for regulatory or client due diligence purposes. We’re excited to be one of the first custody providers to institutional investors to offer coverage for Stellar, and are looking forward to continually expanding our coverage capabilities in the months ahead.”
Stellar has created an enviable popularity. Recently, it became a Sharia Compliant, making it the first cryptocurrency company to enter an Islamic country. The listing of Stellar XLM will definitely encourage investors to make a new investment.
Doug Schwenk, the Founder of DACC explained:
“When we founded DACC, our first step was to speak with prospective clients who are either invested in digital assets, or are interested in doing so. Custody was and remains a priority, but security concerns and the need to adapt to a fast-evolving cryptocurrency market required a bespoke, custom-built solution. Adding XLM demonstrates our commitment to offering the widest coverage in the industry without sacrificing security or client service.”
It can be deduced that DACC is delighted about its new project, making clear that the company is working hard to expand its services as well as to increase the number of investors.