Prime Trust partners with cybersecurity industry veterans to strengthen security for cryptocurrencies and digital assets held in custody offering

In the last eighteen months, over $3B of digital assets disappeared from various institutions due to exchange hacks, insider fraud, and human error.

Fireblocks’ technology provides a “secure highway” for crypto that eliminates the theft of private keys or compromise of credential/API keys and deposit addresses. The firm uses multiparty computation (MPC) and patent-pending chip isolation technology (SGX) to secure digital asset transactions from potential hacks and human error. As the first qualified custodian to implement Fireblocks, Prime Trust continues to lead the industry in security and compliance standards for crypto custody and exchange technology.

“Prime Trust has always set…

Jay Clayton, Chairman of the SEC, is, I’ve heard, holding the line that no new alternative trading system (“ATS”, aka “exchange”) will be approved on his watch if it intends to trade tokens.

Welcome to 1917 and the 18th Amendment. Except instead of alcohol, people can’t buy or sell securities of real estate and private companies other than in an original issuance.

How did we get here?
50 years ago, just about any company could have their stocks (and bonds) traded. Anyone could invest in them. The process was easy, inexpensive and light touch, even though highly manual as all stock/bond…

We announce today an industry-changing shift in the cost of custody for digital assets and now charges zero AUM fees on custody, including Bitcoin, Ethereum, ERC20, and Stellar. We are now offering the world’s first no-fee digital asset custody solution from a qualified custodian.

Historically, qualified custodians charge a laundry list of crypto custody fees that include AUM-based fees ranging from 4bps to 10bps/month. The ground-breaking $0 AUM fee is unmatched by any other qualified custodian and reduces friction and out-of-pocket costs for portals, exchanges, broker-dealers, stablecoins, real estate investors, and many others.

When someone holds stocks, bonds, mutual funds…

2018 was a wild ride. There were negatives like jaw-dropping swings in the price of Bitcoin and with tokens of thousands of baseless ICOs getting washed out of the system. And there were positives of unprecedented FinTech innovation, the arrival of institutional players, the SEC (and FinCEN) beginning to provide clarity and taking select enforcement actions, and new use cases for blockchain technology.

And in 2019? A few of my thoughts and predictions on the larger trends we’ll see include…

The Tokenization of… Everything

  1. STOs (Securities Token Offerings)are currently the hot item that everyone is talking about. And yes, businesses will raise money and…

Do you know what custody means? Do you know what’s being done to keep your tokens safe and sound? Get answers to those questions as Scott Purcell, CEO and Chief Trust Officer at Prime Trust, sits down with Security Token Academy’s Director of Programming, Adam Chapnick, for an open discussion. Other topics include tokenization, the importance of stablecoins and more during this interview filmed at from the StartEngine Summit in Santa Monica..

Lately, I’ve seen a lot of people say “Bank Grade AML” in their marketing and promotions… But, what does that mean?

Well, actually there is no defined standard for that– it’s not a real term. People use it to mean “like a bank.” As a bank is a BSA-subject firm and has enhanced responsibilities — especially when receiving cash deposits or conducting international business — and is under constant scrutiny from the various regulators (OCC, FDIC, Treasury, state banking commissioner, etc.), each of whom have guidelines for banks, as well as annual examination guidelines. All banks and trust companies are…

Scott Purcell

Scott Purcell is the CEO and Chief Trust Officer of Prime Trust. His firm provides custody, escrow, AML, KYC, & payment processing for the new digital economy.

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