California-based crypto broker SFOX reportedly secured a regulatory green light from The State of Wyoming for a trusted charter, starting to offer custodial and other crypto-associated products to institutional customers.

Specifically, SFOX reportedly revealed that the Wyoming trust charter will reportedly make it legally possible for the company to function in the state as the SAFE Trust Company, rolling out offerings to institutional clients, private clients, and advisers. 

Per the firm, SAFE will reportedly “serve in a variety of fiduciary roles”, nominally direct trustee, discretionary trustee, trust advisor, and protector.

“The new charter will enable us to provide secure, reliable and efficient investment, trading, and custodian services for a wide range of digital assets, meeting the needs of investors, particularly small-to-mid-sized firms, which until now have had limited access to these investments,” Head of SAFE and SFOX co-founder, Akbar Thobhani, additionally remarked.

According to Thobhani, the entity’s primary target is reportedly to offer an enhanced level of access to a more vast array of virtual assets, in a sense which ensures security and efficiency are met.

Under the trust charter, SFOX reportedly revealed that it aims to provide services to clients on the hunt for investment opportunities in Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX), and other tokens. 

It also provides custodial services for digital assets in compliance with the currently applied regulatory framework of Wyoming. 

SAFE further shared the plan down its pipeline to obtain a go-ahead from the state’s banking regulator “to operate as an independent, regulated, qualified custodian of digital assets.”

Wyoming has reportedly been a pioneering area in terms of a state-centric approach when it comes to digital asset regulation, since providing crypto exchange Kraken with a bank charter in September last year.