Binance.US uses Prime Trust’s PrimeCore infrastructure to enter the US market.
Binance.US is the US-based spinoff of Binance.com, the world’s largest cryptocurrency platform. According to available statistics, the company reported over $8 billion in on-site assets in 2019. Binance.US engaged Prime Trust to enable them to offer USD trading pairs to their more than 1.2 million American customers through ACH, debit cards, wires, and USD “wallets”. Within two months of launch, the company was doing as much as $14 million in daily trades using Prime Trust’s infrastructure.
TrustToken Uses PrimeCore’s Infrastructure to Launch the Industry’s First Independently Audited Stablecoin.
In 2017, TrustToken identified the need for a stablecoin that was backed by a fully compliant and auditable custody of funds. Other stablecoins relied on basic banking accounts that failed to provide the level of trust and protection required for adoption by token holders and exchanges. In search of a digital assets custodian with a focus on compliance and regulations, TrustToken partnered with Prime Trust, who as an independent third-party trust would custody the USD for TrueUSD on behalf of the token holders.
Bittrex Uses Prime Trust to Upgrade its USD Gateways
Founded in 2014 by three cybersecurity engineers, Bittrex is the premier U.S.-based blockchain platform, providing lightning-fast trade execution, dependable digital wallets and industry-leading security practices. Currently, the company offers over 15,000 cryptocurrencies on their platform. In 2019, Bittrex turned to Prime Trust to help it upgrade its systems and achieve its compliance goals more easily. By building key systems using PrimeCore, Prime Trust’s financial infrastructure solution, the company was able to more easily align their business with the marketplace and offer more stable USD deposits and withdrawals.
Zap Solutions Uses PrimeCore’s Infrastructure to Launch Strike, a Peer-to-Peer Payment App Using the Lightning Network.
At the beginning of 2020, Zap Solutions announced the launch of their new P2P payment app, Strike. Built on blockchain and using Bitcoin and the Lightning Network for settlements, Strike enables customers to fund their wallets and easily send instant, no fee payments to other users. As Zap Solutions focused on the functionality of their app, they turned to Prime Trust’s APIs to help them smoothly integrate with the broader financial ecosystems with custody, payment rails, and the settlement network.
Banq builds Neobank on top of PrimeCore.
In 2019, neobank Banq built its compliance, payment processing, and custody offerings using Prime Trust’s suite of financial infrastructure APIs. Eventually, the company plans to leverage Prime Liquidity to enable securities and crypto trading. Due to PrimeCore’s robust and flexible infrastructure, banq is able to differentiate itself in the market with a unique product offering that includes segregated sub-accounts with customizable business logic and rules. Sub-accounts make it easier for enterprise customers to manage their revenue across different locations or business units. For retail customers, sub-accounts make it easier to save and budget.
StartEngine Uses Prime Trust’s FundAmerica Solution to Build a $100m crowdfunding company.
StartEngine was the first among a wave of crowdfunding platforms entering the retail investor market after adoption of the JOBS act. Today, StartEngine is the largest equity crowdfunding platform in the US. The company has raised over $200M for over 375 businesses on their platform to date, more companies than on any other crowdfunding platform. When StartEngine was looking to launch an equity crowdfunding platform in the United States, they turned to Prime Trust to deliver the financial infrastructure, custody, payment rails, and escrow services they needed to quickly enter the marketplace with compliance in mind.