 So I trust put out an email and they said hey great news We're switching from our custodial partners of coin-based custody in fireblocks What I thought was and we're gonna be using fortress trust and I'm like, I don't know what fortress trust is Why do you guys do this to me? We just had a tumultuous 2022 and I got to switch things up I don't understand so I'm like you guys got to get something to show because I don't understand What's going on and a lot of people don't either so let's get somebody I'm just gonna tell you there's gonna be a couple parts here I'm gonna give a pushback especially on the yield But just take a listen be right back to sponsor of the show I trust and what they came out and they said that there's gonna be a little bit of a changes So what I want to do is bring in somebody to help us out and that is Jared Feldman And he is VP of client experiences at I trust so Jared. Thanks for stopping by. We appreciate it Thanks for having me as usual. Yeah, so we had done now. I've been with you guys now for two years and it's a very Reasonably simple process. I don't want to pay a bunch of taxes when I get older fit nine and a half or 65 What not for my Roth IRA and I felt it necessary to put that into me personally a Roth IRA This is the same thing that Peter teal did he that's how he turned $2,000 and a five billion dollars There's a link in the description. You can find out what I'm talking about there But essentially use a Roth IRA and we're talking about crypto and digital assets for ourselves But there was a tweet that was put out and actually the email that came about as well And it said that you guys are moving And integrating with fortress trust company and it means it says here instant KWC processing streamlined onboarding Logified crypto assets additional alternative assets and more always like that section and more so Talk to us real quick about Who exactly fortresses and why did you guys chain because it looks like things were doing? Okay, using fire blocks and coin-based custody For sure, and then you and I actually have similar anniversaries with I trust capital I just hit two two plus years myself But it's a it's a really good question I think any sort of announcement like this begs questions and we enjoy creating transparency for our clients I have an expression that I really like and it's what would gotcha here Isn't necessarily going to get you there and this is a prime example of that because we've had a great experience with our current trust company It's called M2 trust services We're going to be moving on to fortress because we see an opportunity to plug in to more modern infrastructure especially from a digital asset standpoint and I think that the nature of the question as well is a good opportunity to briefly talk about our structure Because the way that we work there's a lot of regulatory compliance That's baked in to our company because of the fact that we're an IRA provider and Any sort of trust company that we use is an IRA provider So if you look at M2 for example, they leveraged coin-based prime as well as fire blocks when it came to Institutionally storing the digital assets, but at the same time Their legal claim to be able to provide an IRA is through their chartered trust entity, right? So there's custodianship of the IRA and then there's actual physical custodianship of the assets So Fortress has their own chartered trust through the state of Nevada And they they leverage as far as I know fire blocks when it comes to the institutional storage for the digital assets themselves Gotcha. Okay. So that would take us into, you know, a little bit of how I get but let's just break it down into a little bit More and get into the we'll say the minutiae of what's going on. So when we take a look here What exactly are they doing that is new as opposed to just custodianship because do you guys put out? You had a blog post and so you said we here's what Fortress brings the I trust capital plus 30 crypto treading pairs I'll be honest with you. I mean you guys you guys have that you guys have 30 you guys have a ton of trading pairs actually for In the IRA and you have two metals you got gold and silver Which is I own both of those as a matter of fact and also you talk about Blockchain payment infrastructure embeddable account complements and paying widgets You said supervised by the Nevada Banking Commission. That's great qualified custodian under SEC regs Advises act 1940 USC 408 and then you talk about the audits, which of course is great monthly penetration testing by independent firms and The team itself it looks pretty good. But again, what are they? What are they bringing to us besides just the custodianship? So when you talk about your show in particular, especially your show and the theme over the last few few months It's almost like your campaign no scams zero percent on exchanges You're you're you're kind of hitting all these essential food groups for you and your audience Our audience while we have a lot of people who are content and love the platform the way it is We get a lot of feedback from people a lot of constructive criticism a lot of things that people want to see and it's our Responsibility to respond to that criticism and that feedback because we don't just want to stay complacent and keep the platform The way that it is right so when you look at the fortress opportunity That's what it really brings for us is the opportunity to deliver on a lot of these requests in a more timely manner Just since I started working at I trust capital over two years ago people have wanting to see Dollar-cost averaging and being able to systematically withdraw money from their bank account based on when they receive a paycheck People want new asset classes people want yield on their USD and these are things that we have not been able to deliver on We've been great at delivering on other things. We did a beta for staking We have conditional transactions, but we still want to do more order types We still want to have better liquidity options. We still want tighter spreads on trading We really want to continue to be ambitious and then and then the fortress Agreement and the arrangement with them is really a reflection of that ambition So we look forward to having some of those things rolled out by mid-year The most exciting one for me when you look at the press release is the yield on US dollar Because people are not able to get sufficient yield on their fiat in the legacy world right now We're a digital IRA provider We've mostly attracted gold and silver and digital asset Enthusiasts and now we have an opportunity to attract people who might just want to get some yield on their cash While being able to allocate into some of these digital and physical commodities Yeah, I'm with you except for the yield that has been a dirty word. I'm sorry Jared This has been a dirty word, especially with all the exchanges seems like like the yield when you do things what with yield We we saw that in the Ponzi or The different problems with different exchanges will say like a Celsius and like a Voyager and like an FTX and whatever else and block Phi when you talk about yields I mean that could be something down the road where you guys are offering that me personally I wouldn't go for it, but I will tell you I do like the the aspect of the dollar cost averaging The ability to put in stop orders and stop losses think of that and actually do a little bit more of trading within your IRA account because it is a it is a tax-free trade that you are doing as long as you you know Wait that time and then a host of other things that they that you you touched on so These things are good and I will just would like to talk about this real quick I think it's important especially mind if I kind of touch on that. Yes So love love that you're brought it up is one of the first things that I thought of as well there's a big difference between Offering yield on a digital asset or even on a stable coin Versus offering it through a cash suite program. That's affiliated with FDIC insured USD so what we'll do is as we roll out that program we're going to create a Painful amount of disclosures and create a lot of transparency for people so they can see why our program is going to be inherently different than those programs in fact when we structure it and launch it it's going to look and feel more like a legacy Just general yield product on cash like you would get through a high yield savings account rather than something that was through a yield program that operated more like a high-risk hedge fund product like some of these other exchange products we saw great I will wait in the background see how it all goes for you guys and make the decision later. Okay appreciate it So on this one on the last part here, which is if we're talking about on balance here I know you guys had talked about this before especially for yourself But with fortress they make it very clear I like this whole part as a regulated financial institution if anything happens the fortress and the banking commissioner's staff takes Control to ensure an orderly secure transition of assets or assets and data to another trust company or bank assets are not on The balance sheet which is what happened with FTX All assets are held FBO for benefit of and segregated for each Customer individually and have no risk of third-party claims associated with fortress Essentially, they're saying is there is no commingling of funds. So and you want to add on this one? I think it's a positive definitely and It's really timely right? It's when you look at the the news and a lot of the things that have made waves through social media Over the last month or so and the one of the emphasis has been this idea of qualified custody for assets and When you look at a company that has to keep funds and qualified custody it has to be off balance sheet Well, what does off balance sheet mean? There was a lot of news last year pertaining to Retail clients who found out that the exchange they use actually would keep the funds for themselves potentially in the event of bankruptcy Why is that because those exchanges keep client funds on balance sheet? Keeping it off balance sheet makes it not subject to creditors in the event That's something bad were to happen to the underlying company So it's such a powerful important concept that people would have overlooked even just three years when our company was established and now our aspect of qualified custody might become the standard for digital asset Providers throughout the country. So we're really excited by that concept. That sounds good. So so look Jared Thanks for stopping by that explains a little bit more about what's going on because it was I just was looking at I'm like I wonder why they transferred over because it looked like things were going pretty smooth But like you said if you want to go into the next next part what got you there is Isn't always the same thing and then lastly Lastly, yes, very true. Lastly, I was say if you're looking for a link to I trust This is an affiliate link just so everybody knows we can't stand affiliate links go right to I trust capital I'm sure you can find the website itself, but if not, there's a link in the description looks just like that There's also a video about how I trust works and how I've set it up and everything else But that is it so Jared again. Thanks for stopping by. I appreciate it for sure. Happy to be here. All right Everybody's jump back. Okay. That's it. So I hope that made sense. I want to thank I truck coming on again The whole thing with the yield gives me PTSD I'm not a big fan of that But we did talk out where as he goes, Rob, you understand. We're not given 10 14 percent 16 percent It's like one one and a half percent, you know, kind of like, you know tea bills and things like that I go, you know what? That's great. I'm still not gonna touch it So I'll just keep doing what I'm doing that seems to work and off you go You can do whatever you want to do. It's just the way that I'm gonna go and that's it So look you like today's video give it a thumbs up consider subscribing everything we talk about is time sensitive That's it for today. Thanks much for stopping by. I appreciate it and I'll see you on the next one