LOS ANGELES--(BUSINESS WIRE)--StartEngine Crowdfunding Inc. (https://www.startengine.com/) and PrimeTrust (http://primetrust.com/) are preparing the launch of the first ever Regulation Crowdfunding crypto escrow. The escrow is being developed by PrimeTrust and will be available first on StartEngine’s platform. This escrow will allow Regulation Crowdfunding offerings to accept cryptocurrencies, such as Bitcoin and Ether, as investments for the first time in the U.S.
This announcement occurred at the StartEngine ICO 2.0 Spring Summit today in Los Angeles. Scott Purcell, CEO of PrimeTrust, told an audience of 1,000 attendees about the ongoing development of the crypto escrow during the panel “Secrets to Managing an ICO 2.0.”
“As a regulated, insured financial institution we had to approach this cautiously,” said Scott Purcell, CEO and Chief Trust Officer at Prime Trust, “while at the same time, as the leading tech-driven trust company in the country, we listened to our customers who were demanding we get this service launched.”
StartEngine is the premier equity crowdfunding platform in the US, with the most launched Regulation Crowdfunding campaigns to date. StartEngine democratizes access to capital for entrepreneurs and helps companies issue securities to the public through exemptions from registration under the Securities Act.
“As StartEngine launches more ICOs, it was a natural decision for us to add cryptocurrencies as a payment option for investors across all offerings, ICOs or otherwise, on our platform,” said Howard Marks, co-founder and CEO of StartEngine. “There is clearly a lot of potential in the crypto market, and at StartEngine, we want to make sure that entrepreneurs have access to every tool at their disposal to raise capital.”
This development marks the latest effort from companies that are creating a regulated crypto marketplace, similar to other existing US financial institutions that handle securities and operate compliantly under the Securities Act.
For more information on StartEngine visit: https://www.startengine.com
For more information on PrimeTrust visit: http://primetrust.com/
StartEngine is the leading equity crowdfunding platform in the U.S., connecting everyday investors with tomorrow’s progressive companies. Utilizing its expertise in regulated exempt offerings under the Securities Act, StartEngine has raised capital for more than 160 companies and has over 140,000 registered investors. Based in Los Angeles, the company was created in 2014 by Howard Marks, co-founder of Activision, and Ron Miller. StartEngine is committed to revolutionizing the ways companies raise capital and to helping entrepreneurs achieve their dreams. StartEngine Crowdfunding is a not a broker-dealer, funding portal or investment adviser. StartEngine Capital, LLC is a funding portal registered with the US Securities and Exchange Commission (SEC) and as a member of the Financial Industry Regulatory Authority (FINRA).
Prime Trust is the leading technology-driven trust company with a focus on securities escrow & compliance, asset protection and custodian for privately issued securities. Our team has deep experience in all facets of trust operations, banking, securities regulation, and governmental affairs. Together we deliver world class solutions and services to individuals and corporations of all sizes to keep them protected. Member, American Bankers Association and Nevada Trust Company Association. All cash is FDIC insured, and all other assets in accounts are insured up to $5 million each.