LAS VEGAS--(BUSINESS WIRE)--Prime Trust, the crypto qualified custodian and trust company, today announced that it is the first US-based Qualified Custodian to partner with Fireblocks, a secure transfer platform. Through the partnership with Fireblocks, Prime Trust is adding another layer of protection to the industry’s most secure and trusted digital asset custody solution.
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 out to build the best-in-class, gold standard in everything that we do from our compliance to our security and our technology,” said Kevin Lehtiniitty, Chief Product Officer of Prime Trust. “Partnering with Fireblocks to leverage their secure crypto transfer infrastructure represents the next iteration of Prime Trust paving the way for the digital asset custody industry. We're proud to be the first qualified custodian to adopt this cutting-edge technology and provide our entire ecosystem with next-generation security. We look forward to building a deeper relationship with the whole Fireblocks team and building future partnerships.”
"Prime Trust is one of the most recognized names in digital asset custody, and we share a similar understanding of the critical role that security and regulation will play in the adoption of crypto by institutional players," said Michael Shaulov, CEO of Fireblocks. “Together with Prime Trust, we eliminate the vulnerabilities that digital assets are exposed to as they move between different endpoints and provide a fast and secure experience for Prime Trust customers under a regulated umbrella.”
About Prime Trust
Prime Trust is a Nevada-chartered trust company that, as a technology-driven financial institution provides B2B custody, escrow, compliance, fiat processing, transaction software and other services. The firm’s customers include crowdfunding portals, broker-dealers, investment advisers, crypto exchanges, securities ATS’, real estate syndicators, financial institutions, and next-generation financial application innovators. Prime Trust sets the industry standards for custody, fiat processing, escrow and KYC & AML compliance with its frictionless API technology infrastructure which automates these processes. For more information, visit www.primetrust.com.
Fireblocks is an easy to use, enterprise-grade platform for financial institutions that need to streamline digital asset trading – without sacrificing security. Only Fireblocks can securely transfer assets across exchanges, wallets, custodians, and counterparties and keep them readily available using patent-pending chip isolation security and MPC technology. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information visit www.fireblocks.com.