According to a blog post by Jack Mallers, CEO and co-founder of Bitcoin payments company Strike.
Strike has moved clients’ Bitcoin (BTC) and U.S. dollar (USD) holdings to its own internal infrastructure.
Mallers said the move, part of a two-year effort, will reduce counterparty risk while ensuring the robustness and performance of the company’s products and services.
The company, which has a client base in more than 65 countries, will now host bitcoin and fiat currencies directly through Strike. Strike declined to comment on the situation with its former custodian.