BitGo Plans to Purchase Cryptocurrency Custodian Prime Trust
Custodian company BitGo has announced a tentative agreement to acquire 100% of shares of Prime Core Technologies, including cryptocurrency custody organization Prime Trust.
The deal, which is subject to regulatory approval, promises to bring “business continuity, long-term stability and regulated, secure solutions” for clients.
Jor Law, Prime Trust CEO, expressed his enthusiasm to offer “world-class infrastructure within the wider ecosystem” and promote the advancement of the crypto industry.
Founded in 2016 in Las Vegas, Nevada, Prime Trust is best known for providing developer tools and APIs, such as payment systems, compliance, settlement, liquidity, and digital asset custody.
In June 2022, Prime Trust raised $107 million to maintain their business in spite of the bear market.
