Prime Trust, the leading provider of all-in-one, financial infrastructure for fintech innovators today reported 2020 numbers, with strong growth across crypto, crowdfunding and BaaS markets. It further detailed the fintech roadmap priorities for the year ahead. Additionally, Prime Trust celebrated its year-end with continued team expansion – hiring more than 100 new members in 2020; despite the challenges of the pandemic.
Prime Trust executives attribute the company’s growth to the acceleration of alt-banking and the next-generation of alternative trading systems. Additional highlights from the year include:
- Crypto – $12 billion in settlements and more than 3.4 million counterparty transactions
- Crowdfunding – more than $650 million invested, with 460,000 transactions in 648 offerings
- Financial Infrastructure – more than 140 API customers, $22 billion funds processed and 600,000 AML checks
“What a year! Despite a lot of uncertainty caused by COVID-19, I am in awe of our team and how they persevered as business accelerated beyond our wildest expectations,” said Scott Purcell, CEO of Prime Trust. “We moved quickly to develop technology and add exceptional team members with expertise across regulation, banking, business and tech to service our API customers.”
Prime Trust will continue full steam ahead for 2021, with a host of priorities and initiatives across the board from enhancing bank crypto services to securing impactful certifications. The company will continue to thrive in the new year as the all-in-one, financial infrastructure for quick, easy, and reliable deployment to help fintech innovators launch in a customizable way.
“It’s a really exciting time to be in fintech, and a fantastic time to provide financial infrastructure to a huge variety of innovators,” Purcell said. “Our customers are doing incredible things with our technology and 2021 is going to be an amazing year of innovation and disruption – I can’t wait.”
Prime Trust is the leading provider of all-in-one, financial infrastructure for fintech innovators. Their proprietary Universal Asset Platform, Prime Core, is a modular platform that allows fintech startups and established financial institutions to scale and enter new markets, quickly and simply. The firm powers mobile financial apps, crypto exchanges, securities exchanges, OTC desks, portals, platforms, brokers, investment advisors, exchanges, real-estate syndicators, and others with smart API solutions to create world-class financial services at scale. Services provided by Prime Trust include institutional and retail account types including custodial, IRA, trust, and escrow, coupled with funds processing, AML and KYC compliance, asset custody, counterparty settlement systems, transaction technology and tax reporting.