Velocity Ledger announced its partnership with Prime Trust early in the week placing its digital assets in the hands of the custodian company. The partnership aims to increase the mass adoption of digital assets and tokenized securities across the world though efficient issuance and custody by Prime Trust.
Velocity Ledger is a fintech company dealing with institutional investment option of digital assets and the trading of cryptocurrencies across the globe. Prime Trust is a custodian of digital licensed in Nevada with the ability to hold cash and non-cash assets such as equities, bonds and the new digital assets available including cryptocurrencies.
The selection of Prime Trust as the top custodian for Velocity Ledger Financial comes at a time VL Financials looks forward to open its Bermuda digital assets exchange. The company applied for the Digital Asset Business Act (DABA) in Bermuda to operate the digital asset exchange for issuing and secondary trading service for REIT structured tokens and institutional investment.
As an institutional based trading platform, VL Financials will provide the traders with an automated registration process on Prime Trust platform to establish custodial accounts on the platform.
Speaking on the recent partnership, Julian Jacobson, Chief Operating officer at Velocity Ledger confirmed that the two companies will work independently despite the partnership. He said,
“Velocity Ledger Financials is an institutionally focused digital asset exchange. The exchange and custodial services are each independently regulated companies with their own enterprise level systems that operate around the use of public and private blockchains.”
Scott Percell, CEO and chief Trust officer at Prime Trust was just as ecstatic at the partnership with VL Financials saying,
“We are excited to work with Velocity Leger as they bring marketplace technology and tools to the emerging economy, paving the way for an exciting new future of liquidity options for tokenized securities.”