North Capital Trust Company Receives South Dakota Public Trust Company Charter

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SALT LAKE CITY, UT – March 31, 2026

North Capital Investment Technology, Inc., a financial technology company providing technology solutions to private securities issuers, intermediaries, and investors, today announced that its wholly owned subsidiary, North Capital Trust Company, has received from the South Dakota Division of Banking a Charter and Certificate of Authority to transact business as a Public Trust Company.   

“We are excited to receive our Public Trust Company charter, which positions us to better serve our custody clients and expand our scope of services beyond private securities,” said Grant Nelson, Managing Director and Head of Custody and Brokerage at North Capital.  “We look forward to commencing Trust Company operations over the next few months.”  Trust companies have emerged as a preferred vehicle for supporting the custody of tangible and digital assets, including tokenized securities.  North Capital has been expanding the scope of its activities in digital asset securities, launching North Capital Token Services, LLC earlier this year. 

“We began to explore the feasibility of forming a trust company about six years ago, when the Securities and Exchange Commission and FINRA issued the Joint Staff Statement on Broker-Dealer Custody of Digital Asset Securities,” said James P. Dowd, CEO of North Capital.  Under the terms of the Joint Statement, which was withdrawn by the SEC and FINRA last year, clearing and carrying broker-dealers were practically prohibited from serving as a custodian for digital asset securities.  The Firm’s custodial broker-dealer, North Capital Private Securities Corporation, had previously received approval as a clearing and carrying firm in 2016, so the Joint Statement was a setback for the Firm’s digital strategy.  Investors and registered intermediaries rely upon qualified custodians to fulfill statutory requirements applicable to registered investment advisors, registered funds, and qualified accounts such as IRAs, ROTH IRAs, HSAs, and 401k Plans.   

“Although broker-dealers are no longer precluded from holding digital asset securities on behalf of their customers, we believe that North Capital Trust Company will provide flexibility to more fully meet the evolving needs of our customers in a rapidly changing market environment,” said Dowd. 

For more information about North Capital, visit https://www.northcapital.com. 

About North Capital
North Capital Investment Technology, Inc. is a financial technology company providing technology solutions for issuers, professional intermediaries, and investors in the exempt securities market. Through separate affiliated entities, North Capital offers brokerage, trust/custody, and related services, each subject to applicable law, approvals, documentation, and regulatory requirements.

No Regulatory Endorsement
No regulatory agency, including the U.S. Securities and Exchange Commission, FINRA, or the South Dakota Division of Banking, has approved, endorsed, or recommended North Capital, its affiliates, or any product or service described in this release.

No Offer, Solicitation, Investment Advice or Recommendations
This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, investment advice, legal advice, or tax advice. Custody, brokerage, trust, and investment advisory services, if offered, are provided through separate affiliated entities and subject to applicable approvals, documentation, and regulatory requirements.

Forward Looking Statements
This release may contain forward-looking statements regarding future performance, financial results, prospects, and opportunities. Such statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking statements are only predictions, and no obligation is undertaken to update or revise them.

North Capital Trust Company (NCTC) is a South Dakota public non-depository trust company. A trust company charter does not by itself mean that any particular product or service is available in every jurisdiction or to every customer, and services will be offered subject to applicable law, approvals, and documentation. NCTC is not an FDIC-insured bank.

North Capital Private Securities Corporation (NCPS) is a broker-dealer registered with the U.S. Securities and Exchange Commission and a member of FINRA  and  SIPC.  More information about NCPS, including applicable disclosures, is available through FINRA BrokerCheck and on North Capital’swebsite.

Media Contact
James P. Dowd
[email protected]
415.315.9916