Prime Trust launches Instant Cryptocurrency and Fiat Payments Platform

Financial institution Prime Trust has launched a settlement network for transferring assets between its customers in real time.

The new PrimeX service gives Prime Trust customers immediate access to funds when they trade cryptocurrency or make fiat currencies with each other. The trust company will not charge for a new service. The service is available around the clock and without restrictions on the amount of transfer, according to the announcement.

The network is already being used by “leading stock exchanges, over-the-counter platforms, market makers, issuers of steylcoins and traders,” the company said, but specific firms are not named. Counterparties on the network must agree to send or receive funds before transactions can be carried out.

The company Prime Trust, despite its small size, plays an important role in the cryptocurrency industry. She is engaged in storage
fiat currencies for a number of dollar-secured stablecocks, offers storage
in cold storage for cryptoactive assets, and also provides fiat deposits and withdrawal services for the HBUS exchange.

Prime Trust Product Director Kevin Lehtinitty (Kevin Lehtiniitty) said in a statement:

“Using Prime Trust’s ability to store a wide range of assets, Prime Exchange Network is the first platform in the world to make round-the-clock calculations for several fiat currencies, as well as digital assets that are handled by one qualified custodian.”

In February of this year, the New York Signature Bank also launched
blockchain platform for instant payments.