SCOOP: Crypto custody firm BitGo has reached a preliminary agreement to acquire PrimeTrustCo. ianallison123 reports
Cryptocurrency custody firm BitGo has reached a preliminary agreement to buy Prime Trust, another crypto custody specialist regulated in the state of Nevada, according to two people familiar with the matter.Prime Trust had been the subject of some speculation with people
suggesting the firm was facing bankruptcy. The financial terms of the deal were not disclosed by the other source.The need for safekeeping and storage of cryptocurrencies, particularly for institutional customers and high net worth individuals, has driven digital asset custody to prominence, with many flavors on offer and firms commanding high valuations. The issue has also drawn the attention of the U.S.
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