WILMINGTON, Del., April 30, 2024 /PRNewswire/ — Depository Trust Company of Delaware, LLC dba Delaware Depository is committed to providing its valued customers with unwavering dedication to security, integrity, and transparency in providing precious metals safekeeping services in a trustworthy manner. Delaware Depository, which should not be confused with First State Depository Company, LLC or Argent Asset Group, has built a reputation for integrity and reliability that sets it apart in the precious metals safekeeping industry.
As an approved depository of CME Group, Delaware Depository has continually served as a reliable delivery point for physical settlements of gold, silver, platinum, and palladium traded on the COMEX and NYMEX.
Delaware Depository is unique among other depositories because it is a Delaware state-chartered limited purpose trust company. This means that Delaware Depository’s trust company operations are independently supervised and examined by the Delaware State Bank Commissioner. This also means that Delaware Depository is uniquely qualified to be a custodian in the “physical possession” of bullion held in individual retirement accounts (IRA) in accordance with Internal Revenue Code Section 408(m). Internal audits and external audits done on an annual basis by a PCAOB-registered independent accounting firm to confirm that precious metals held in the custody of Delaware Depository match what customers own.
Alongside physical security, cybersecurity is a top priority as Delaware Depository maintains appropriate internal controls over the confidentiality, integrity, and availability of systems and digital assets, as confirmed by SOC-1 audits conducted by a PCAOB-registered independent auditing firm.
As a strong indicator of the level of trust placed in Delaware Depository, Lloyds of London underwriters provide $1 billion in all-risk insurance coverage to protect customers against loss of or damage to precious metals in the custody of Delaware Depository.
“At Delaware Depository, customer assets are fully allocated, independently audited, and held completely off our own balance sheet. Our core values of security, integrity and transparency have endured since we first formed Delaware Depository to be a trusted custodian of customer assets,” stated Jonathan Potts, the Managing Director of Delaware Depository.
Delaware Depository has earned the trust of its customers who primarily consist of banks, trust companies, and entities involved in the precious metals supply chain.
About Delaware Depository
Founded in 1999, Delaware Depository is a limited purpose trust company that provides allocated and segregated precious metals safekeeping and fulfillment services for entities and individuals that have a need to store gold, silver, platinum and palladium bullion in a safe and secure manner. Delaware Depository’s fortified facilities are situated in Delaware and Nevada, offering customers the ability to geographically diversify storage of bullion in locations that are distant from areas where natural disasters and terrorist acts have occurred in the recent past. To learn more, visit www.delawaredepository.com.
SOURCE FideliTrade Incorporated
