BitGo decided not to Buy the Prime Trust Cryptocurrency Custodian

The BitGo custodian decided not to buy a company that stores cryptocurrency. We are talking about Prime Trust. This was announced by BitGo on its Twitter account.

What are the reasons for refusal

Representatives of the company said that huge efforts and work have been carried out to find a common path with Prime Trust. However, the company had to make a difficult decision to stop the purchase process. At the same time, the company's representative added that it remains committed to its mission to ensure trust in cryptocurrencies.

Prime Trust was launched in 2016. It provides development tools. Tools for APIs, including payment services, compliance and liquidity, have also been created. There are about 700 clients in the users, including financial organizations and cryptocurrency projects.

Last year, it was able to attract more than $ 100 million for further development of the market. Two months after that, a trial began with the Celsius Network platform, which went bankrupt. She demanded the return of about $17 million in cryptocurrency.

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