LOS ANGELES, Sept. 24, 2019 /PRNewswire/ — iTrustCapital, a Digital Asset trading platform that lets investors buy and sell cryptocurrencies and physical gold within U.S. retirement accounts, appoints FinTech veteran Rich Hauschild as CTO.
Rich Hauschild is the former Senior Vice President of Technology at PIMCO, one of the world’s premier fixed income management firms. During his decade long tenure at PIMCO, he designed and managed systems supporting their $2 Trillion AUM trading operation. The one-year-old, Los Angeles-based startup, iTrustCapital, taps Mr. Hauschild’s expertise in high volume trading systems, as they plan to capture part of the self-identified $1 Trillion market for self-directed retirement accounts focusing on digital and physical assets.
“For the last 20 years, I have built technology for the asset management industry; during which time, I learned the importance of providing value to your clients. I am very excited to join iTrustCapital, because both Todd and Blake have a similar client-first methodology. Our platform allows 24/7 trading of digital assets into IRAs at a price that is unparalleled in the industry. Over the next 6-12 months, we will be expanding the capabilities of our platform by adding more assets, making it easier to use and making it even more secure so that we continue to provide the best experience in the industry,” says Rich Hauschild about his new position.
Mr. Hauschild adds to iTrustCapital’s existing team of former PIMCO executives. Tim Shaler, a former Portfolio Manager at PIMCO and Murphy McCann a former Senior Vice President of operations. According to iTrust, they represent the maturing of the blockchain space, as big names like Facebook make their foray into the industry. “We’re seeing the days of the cryptocurrency wild wild west waning as the industry matures in many ways, including more attention and regulation from government agencies like the IRS,” explains Todd Southwick, iTrustCapital CEO.
iTrustCapital is a digital asset trading platform that allows clients to buy and sell cryptocurrencies and Physical Gold real-time, 24/7, through their retirement accounts. Ten to 15 million Americans invest in cryptocurrencies and millions more in physical gold. Most solutions facilitating these investments are complicated, risky, and create a tax liability. Buying cryptocurrencies involves applying for, then funding accounts on multiple exchanges and withdrawing the investment to a hardware security device. Selling is the same risky process in reverse. Buying gold is just as inconvenient; requiring shipping, receipt, and storage. The worst part is the reporting and tax liability incurred on every transaction. With the IRS targeting cryptocurrency investors for not reporting their trades, iTrust users defer or eliminate taxes and have no reporting requirements. While other IRA services charge as much as 15% for a single transaction, iTrust’s transaction fee is just 1%. As part of the service, iTrust provides IRA Maintenance and institutional-grade secure storage for a flat fee of $29.95 per month.