Blockchain security firm BitGo has announced that it is building the first qualified custodian specifically for digital currencies.

The company currently offers a number of options for custody, from self-custody to full custody. It is now seeking to expand the offering with a regulated, qualified custodial product for US investors.

In an online post, BitGo said that it is seeking a charter to build BitGo Trust, adding that it has decided not to proceed with the acquisition of Kingdom Trust.

“Our vision is to build a new, regulated, qualified custodian that will be the first and only one built from the ground up for digital assets,” Robin Verderosa, Product Marketing at BitGo, wrote.

“Over the last few months, we have worked closely with customers to understand their custodial needs and have realized that to offer the best custodial solution, we needed to build our own qualified custodial offering. As a result, we have decided not to move forward with the acquisition of Kingdom Trust.”

BitGo entered into a definitive agreement to acquire Kingdom Trust Company in January 2018. It said at the time that its combined offering with Kingdom Trust will provide the first complete and independent qualified custodial offering for Bitcoin, Ripple, Ethereum, and More