Prime Trust to offer no-fee digital asset custody solution
31 January 2019 Nevada
Image: Shutterstock
Custodian Prime Trust is now offering zero asset under management (AUM) fees on digital assets it holds in custody, including bitcoin and ethereum.
According to Prime Trust, the zero AUM fee is unmatched by any other qualified custodian and reduces friction and out-of-pocket costs for portals, exchanges, broker-dealers, stablecoins, real estate investors, and many others.
Prime Trust works with institutions, exchanges, over-the-counter desks, broker-dealers, funding portals stablecoins and others involved in the digital economy to connect via the firm’s proprietary application programming interface.
Scott Purcell, CEO and chief trust officer of Prime Trust, said: “When someone holds stocks, bonds, mutual funds, exchange-traded funds, real estate, private securities or other assets at a custodian such as Schwab, Robinhood, Northern Trust or J.P. Morgan, they don't pay fees based upon the market value of those assets.”
He added: “It doesn't matter if you hold, for example, $500 or $50,000,000 worth of Apple stock in your account—there are no percent of asset value-based fees. So why the heck are qualified custodians charging to custody digital assets?”
“This move continues to underscore our mission to make it easier for our customers to do business and bring tokenised-asset services in line with the rest of the financial world.”
According to Prime Trust, the zero AUM fee is unmatched by any other qualified custodian and reduces friction and out-of-pocket costs for portals, exchanges, broker-dealers, stablecoins, real estate investors, and many others.
Prime Trust works with institutions, exchanges, over-the-counter desks, broker-dealers, funding portals stablecoins and others involved in the digital economy to connect via the firm’s proprietary application programming interface.
Scott Purcell, CEO and chief trust officer of Prime Trust, said: “When someone holds stocks, bonds, mutual funds, exchange-traded funds, real estate, private securities or other assets at a custodian such as Schwab, Robinhood, Northern Trust or J.P. Morgan, they don't pay fees based upon the market value of those assets.”
He added: “It doesn't matter if you hold, for example, $500 or $50,000,000 worth of Apple stock in your account—there are no percent of asset value-based fees. So why the heck are qualified custodians charging to custody digital assets?”
“This move continues to underscore our mission to make it easier for our customers to do business and bring tokenised-asset services in line with the rest of the financial world.”
NO FEE, NO RISK
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