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Strike will now provide direct asset custody services for Texas customers

Bitcoin Reddit

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Just got this email from Strike. Not really sure what it means. Wondering if anyone else got it and can explain. Is this just back end details that doesn't make a difference to me? Is this good news?

Copied from the email:

Strike has been approved for a Texas money transmission license! Starting January 30, Strike will now provide direct asset custody services for Texas customers, replacing your current custodian, Prime Trust.

  • By taking no action in response to this email by 2 pm ET on January 30, you are consenting to transfer custody of your assets to Strike. Your Strike app experience will remain unchanged as a result of this transition. Your dollars and bitcoins in your account will continue to be safe and available for withdrawal at any time.
  • If you decline Strike as your asset custody provider, Prime Trust will limit your account to withdrawals and outbound payments (direct, on-chain, and Lightning payments) as of January 30. Prime Trust will then close your account on March 15, 2023.
submitted by /u/Neon_Meat_Dreams
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