{"id":64722,"date":"2023-06-09T08:43:36","date_gmt":"2023-06-09T08:43:36","guid":{"rendered":"Popular crypto custodian BitGo announced signing a term sheet to acquire 100% equity in Prime Core Technologies, the parent company of\u00a0Prime Trust<\/a><\/strong>. The mo"},"modified":"2023-08-09T08:45:21","modified_gmt":"2023-08-09T08:45:21","slug":"circle-lanza-una-stablecoin-nativa-usdc-en-arbitrum-2-2","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/es\/circle-lanza-una-stablecoin-nativa-usdc-en-arbitrum-2-2\/","title":{"rendered":"BitGo adquirir\u00e1 el capital de la matriz Prime Trust entre rumores de quiebra"},"content":{"rendered":"

Popular crypto custodian BitGo announced signing a term sheet to acquire 100% equity in Prime Core Technologies, the parent company of\u00a0Prime Trust<\/a><\/strong>. The move comes amidst swirling bankruptcy rumors surrounding Prime Trust and aims to bolster BitGo\u2019s offerings to institutional clients and fintech companies.<\/p>\n

Earlier this year, Prime Trust faced significant challenges, including the suspension of its operations in Texas and staff reductions.\u00a0The company\u2019s reputation took a hit when it was sued by crypto lending firm Celsius, alleging failure to return a sum of $17 million<\/strong>. Against this backdrop, rumors of Prime Trust\u2019s impending bankruptcy began to circulate on June 7.<\/p>\n

<\/span>BITGO WILL INTEGRATE PRIME TRUST\u2019S SERVICES<\/h2>\n

However, BitGo\u00a0remains optimistic<\/a>\u00a0about the acquisition\u2019s potential advantages. By integrating Prime Trust\u2019s Nevada Trust Company into its network of trust companies,\u00a0BitGo aims to provide a comprehensive suite of solutions for its\u00a0institutional clients<\/a>\u00a0and fintech partners<\/strong>. Furthermore, BitGo plans to leverage Prime Trust\u2019s\u00a0exchange<\/a>\u00a0network and API to bolster its own services and expand its reach in the crypto industry.<\/p>\n

Its fintech API infrastructure and exchange network will reinforce BitGo\u2019s Wallet Services (BWS) and Go Network, enabling seamless custody, liquidity, settlement, and compliance capabilities.<\/p>\n

BitGo will also gain access to Prime Trust\u2019s esteemed network of banking partners and payment rails, as well as the opportunity to expand its services to include crypto retirement funds (IRAs) and wealth management offerings.<\/p>\n

<\/span>EXPECTED BENEFITS OF THE ACQUISITION<\/h2>\n

The acquisition of Prime Trust by BitGo marks a significant milestone,\u00a0as it positions BitGo as the first global digital asset company to offer a full suite of solutions for institutions and fintech platforms<\/strong>. The combination of BitGo\u2019s long-standing credibility and operational excellence, alongside Prime Trust\u2019s infrastructure and expertise, presents an opportunity to revolutionize the future of crypto.<\/p>\n

Jor Law, Prime Trust\u2019s interim CEO and president, expressed enthusiasm for the collaboration, emphasizing the unparalleled breadth of products and services the combined company would offer. He said.<\/p>\n

\u201cNo other company will have the breadth\u00a0of product and services nor depth of experience that this combined company would have. We are excited to offer our world-class infrastructure within a broader ecosystem and revolutionize the future of crypto.\u201d<\/em><\/p>\n

Upon completion of the acquisition, BitGo expects several key benefits to materialize<\/strong>. Prime Trust\u2019s Nevada Trust Company will join BitGo\u2019s existing network of regulated trust companies, enhancing its global presence. On the other hand, Mike Belshe, CEO and Co-Founder of BitGo, maintained,<\/p>\n

\u201cThis is a landmark transaction, leading a greater shift in the digital asset landscape toward a more secure and sustainable future. With the expected acquisition of Prime Trust, BitGo is well positioned to enhance its best-in-class, trusted solutions and to service the combined customer base.\u201d<\/em><\/p>\n

Since its establishment in 2013,\u00a0BitGo has been a pioneer in multi-signature wallets, introducing TSS technology to enhance security further<\/strong>. With a portfolio encompassing over 600 tokens and partnerships with numerous institutional clients worldwide, BitGo has firmly established itself as a leader in digital asset security, custody, and liquidity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Popular crypto custodian BitGo announced signing a term sheet to acquire 100% equity in Prime Core Technologies, the parent company of\u00a0Prime Trust. The move comes amidst swirling bankruptcy rumors surrounding Prime Trust and aims to bolster BitGo\u2019s offerings to institutional clients and fintech companies. Earlier this year, Prime Trust faced significant challenges, including the suspension … <\/p>\n

Leer m\u00e1s<\/a><\/p>\n","protected":false},"author":26,"featured_media":64616,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"","rank_math_description":"","footnotes":""},"categories":[971],"tags":[],"class_list":["post-64722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias"],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/posts\/64722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/users\/26"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/comments?post=64722"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/posts\/64722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/media\/64616"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/media?parent=64722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/categories?post=64722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/es\/wp-json\/wp\/v2\/tags?post=64722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}