trust company

noun

: an incorporated trustee

broadly : a corporation that functions as a corporate and personal trustee and usually also engages in the normal activities of a commercial bank

Example Sentences

Recent Examples on the Web

After launching in 2019, BUSD quickly became the fruit of a successful partnership between Binance and Paxos, a New York trust company with a reputation for compliance. —Byleo Schwartz, Fortune Crypto, 22 Feb. 2023

No other retail bank, credit union, mortgage lender, trust company, etc. —Eplunus Colvin, Arkansas Online, 24 Oct. 2022

Fraud prevention and digital trust company Sift has hired Mary Writz as senior vice president of product. —Paige Mcglauflin, Fortune, 13 Sep. 2022

For example, in one instance, a trust company with roughly $30 billion of crypto assets under custody has only a $7 million minimum capital requirement today. —Caitlin Long, Forbes, 4 June 2022

However, many nonprofits contract with an outside administration provider—a bank or trust company—that is skilled with investing, financial, tax and reporting requirements. —Kristen Jaarda, Forbes, 14 Mar. 2022

Dennis Gingold, a lawyer who co-founded the Colorado trust company, agreed. —Jane Mayer, The New Yorker, 16 Apr. 2022

Makarov, the Russian billionaire, turned to Wyoming in late 2016, setting up a Wyoming trust and an unregulated private trust company to manage it, Pandora Papers documents show. —Washington Post, 20 Dec. 2021

Celia María Agueda Munilla, the 83-year-old matriarch of the Baggio family in Argentina, also set up a trust overseen by an unregulated private trust company in Wyoming. —Washington Post, 20 Dec. 2021

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Word History

First Known Use

1827, in the meaning defined above

Kids Definition

trust company

noun

: a corporation (as a bank) organized to act as a trustee

Legal Definition

trust company

see company