Custodian BitGo entered into a preliminary agreement on the purchase of 100% of the shares of Prime Core Technologies, which includes the cryptocurrency storage company Prime Trust.
Representatives of the first said that the deal will provide “business continuity, long-term stability and regulated, secure solutions” for customers.
The terms of the agreement were not disclosed. According to CoinDeskThe deal is still subject to regulatory approval.
“No other company will have products, services, or experience as deep as this association. We are excited to offer world-class infrastructure within the wider ecosystem and develop the future of the crypto industry,” added Prime Trust CEO Jor Lowe.
Founded in 2016 in Las Vegas, Nevada, Prime Trust specializes in providing developer tools and APIs, including payment systems, compliance, liquidity, settlement and digital asset custody.
In June 2022, Prime Trust raised $107 million to grow the business despite the bear market.
In August 2022, the custodian became involved in a legal battle with bankrupt crypto-lending platform Celsius Network, which demanded the return of approximately ~$17 million in digital tokens.
Recall that in the same month, the cryptocurrency trading bank Galaxy Digital Mike Novogratz refused to buy BitGo. Later, the latter sued the failed partner, stating that she was “hasty” to withdraw from the deal.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Custodian BitGo entered into a preliminary agreement on the purchase of 100% of the shares of Prime Core Technologies, which includes the cryptocurrency storage company Prime Trust.
Representatives of the first said that the deal will provide “business continuity, long-term stability and regulated, secure solutions” for customers.
The terms of the agreement were not disclosed. According to CoinDeskThe deal is still subject to regulatory approval.
“No other company will have products, services, or experience as deep as this association. We are excited to offer world-class infrastructure within the wider ecosystem and develop the future of the crypto industry,” added Prime Trust CEO Jor Lowe.
Founded in 2016 in Las Vegas, Nevada, Prime Trust specializes in providing developer tools and APIs, including payment systems, compliance, liquidity, settlement and digital asset custody.
In June 2022, Prime Trust raised $107 million to grow the business despite the bear market.
In August 2022, the custodian became involved in a legal battle with bankrupt crypto-lending platform Celsius Network, which demanded the return of approximately ~$17 million in digital tokens.
Recall that in the same month, the cryptocurrency trading bank Galaxy Digital Mike Novogratz refused to buy BitGo. Later, the latter sued the failed partner, stating that she was “hasty” to withdraw from the deal.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!