Major Player Prime Trust Joins Highly-Acclaimed OTCXN Network for Crypto Asset Custody Services
Prime Trust is the Latest Major Player to Join the Highly Acclaimed Blockchain-powered OTCXN Network
OTCXN has just put it on paper that they now have Prime Trust on board. The institution, which is a high-flying blockchain-powered financial infrastructure company, has recruited Prime Trust to act as a third-party and neutral custodian of its assets that are held on behalf of trading entities. Not forgetting that all exchanges that use OTCXN tech to see through their clearing/settlement services or facilitate cross-exchange trading will also benefit from this partnership.
About Prime Trust
It is possible that you may be wondering who Prime Trust is – especially if you're an OTCXN fan. Well, it is one of the largest regulated, chartered and insured trust companies that have full fiduciary authority backed up by KYC/AML procedures. Speaking of which, Prime Trust boasts of a wide array of both international and US-based clients on its clientele list. Now, in the wake of this new developments, Prime Trust will play a significant role in facilitating the expansion and renovation of the OTCXN network. And this will most likely be done by stepping up their purpose of providing clients with capital efficient and safe access to unfettered global liquidity via OTCXN trading platform.
Full Support for Tokens and KYC/AML Compliant
On its end, Prime Trust has announced its full and unconditional support for STELLAR (STL) tokens as a way of adopting the blockchain industry. As put earlier, Prime Trust is an established industry that has recently begun specializing in the fast-becoming-popular blockchain niche. Thanks to the fact that it is a recognized SEC (securities and exchange commission) qualified custodian, it also offers custody of fiat, tokens and other major traditional assets as well as processing funds. All this is, in fact, a way of creating trust in a new digital economy that is not just blockchain-driven but also revolving around an emergent technology.
OTC Block Trading
The solution that has been borne out of this partnership is reported to enjoy a strong appeal to those custodians that are in the business of holding crypto-assets on behalf of institutional clients. This stems from the fact that such an arrangement would require the crypto-wealth to be kept in cold and deep storage as opposed to being readily available at an exchange or being readily in-flight. All in all, the OTCXN solution offers custodians an avenue of implementing a continuous net settlement reporting backed up by point-in-time snapshots and multiple workflow tools.