Fold Is Working to Onboard New Trading and Custody Partners
Fold has delayed the relaunch of its bitcoin buying feature as the company is working to diversify across different trading and custody partners to eliminate single points of failure, was announced in a blog post.
"The recent Prime Trust and Fortress events reinforce the need to do things in the right way vs. the fast way. We are in the process of onboarding new trading and custody partners which will make Fold the best place to buy bitcoin again– we just need a bit more time."
"In June, we announced the addition of new partners, including Bitgo and Fortress to bolster our trading and custody operations. Since then, Fortress disclosed a breach that led to a loss of funds for four customers (Fold was unaffected), and later, they announced that Ripple was acquiring them."
"Over the next few weeks, we will announce new trading and custody partners that will be incorporated into our offering, as well as updated timelines on when we will relaunch the [bitcoin buying] feature."