Prime Trust, a crypto qualified custodian and trust company, has become the first US-based Qualified Custodian to partner with Fireblocks, a secure transfer platform for digital assets.
In the last eighteen months, over USD3 billion 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,” says Kevin Lehtiniitty (pictured), 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 recognised 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," says 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.”
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