BitGo Signs Letter of Intent to Acquire 100% of Prime Trust Parent Company, which Closed $107M Series B Funding Last Year

Cryptocurrency custody firm BitGo has announced that it has signed a term sheet to acquire 100% of Prime Core Technologie, the parent company of Prime Trust. Prime Trust is a provider of financial infrastructure for fintech and digital asset innovators. Prime Trust’s Nevada Trust Company will join BitGo’s existing global network of regulated trust companies in South Dakota, New York, Germany and Switzerland. BitGo Wallet Service (BWS) and BitGo's Go Network will be enhanced by Prime Trust's fintech API infrastructure and Prime Trust Transaction Network. Foresight News previously reported that in June 2022, Prime Trust completed a US$107 million Series B financing. The specific financing information has not been disclosed yet. The funds raised will be used to expand its product categories, including encrypted pension products and asset tokenization products.