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Prime Trust launches PrimeX instant counterparty settlement network

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Prime Trust, a crypto custodian and trust company, has launched PrimeX allowing clients to instantly transfer any asset between Prime Trust account holders in real-time, 24 hours a day, seven days a week, 365 days a year. 

Prime is being adopted by iexchanges, OTC desks, market makers, stablecoins, and traders, giving Prime Trust account-holders the ability to form counterparty relationships in real-time to effect and settle transactions in fiat and crypto assets.

PrimeX, through a network of Smart APIs, enables Prime Trust’s institutional and retail clients to instantly transfer assets (whether they are traditional assets like fiat currencies, stocks, bonds, real estate, or digital assets, like cryptocurrencies) between any of their own or another client institution’s or individual’s account (ex custodial, merchant, IRA, trust etc).

“PrimeX represents the next generation of settlement networks. Leveraging Prime Trust’s ability to custody a wide variety of assets, the Prime Exchange Network is the world’s first platform for 24/7 settlement of multiple FIAT currencies, as well as digital assets, all in one qualified custodian. This sets a new standard for the industry,” says Kevin Lehtiniitty, Chief Product Officer at Prime Trust. “We’re excited to welcome select exchange, stablecoin, and OTC desk partners into the private beta of PrimeX and collaborate on building an industry defining financial settlement system.”

Prime Trust does not charge clients any fees for making asset transfers through its PrimeX platform, and there is no limit on the dollar value of the asset being transferred.

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