Prime Trust provides a technology-driven financial infrastructure solutions exchanges, OTC desks, portals, platforms, brokers, investment advisors, stablecoins, and more. Kevin Lehtiniitty, Chief Product Officer at Prime Trust will be sharing more details with us in this interview.
Please introduce yourself and share a little bit of your background?
My name is Kevin Lehtiniitty and I serve as the Chief Product Officer at Prime Trust. I joined the firm 3 years ago and have been the product lead since joining. Prior to joining Prime Trust, I led product at FundAmerica, and prior to that I was part of the product management team at Strata Decision Technology.
What is Prime Trust?
Prime Trust is a technology-driven financial institution that provides financial infrastructure solutions for the digital economy. We power exchanges, OTC desks, portals, platforms, brokers, investment advisors, stablecoins, and others with smart API solutions to create world-class financial services at scale. As a qualified custodian, we provide FIAT and token custody, funds processing, AML and KYC compliance, and transaction technology.
What major services do you provide at Prime Trust?
Prime Trust’s API’s allow authorized, vetted partners to integrate with our financial services. This means being able to open accounts, make asset deposits (including fiat and tokens), initiate disbursements, trigger AML & KYC, manage securities escrow, confirm balances and pull reports. Our newest product is Prime Exchange Network (PrimeX), which is a fast, secure, and easy API-driven service that allows exchanges and OTC desks to transfer any asset between their Prime Trust accounts, or to any customer on the PrimeX network, in real-time, 24 hours a day, 7 days a week, 365 days a year.
What solutions is Prime Trust providing for both the traditional and Digital Asset Markets?
As a Nevada Trust Company, Prime Trust custodies a gambit of assets from multiple traditional currencies like USD and Euro to real estate, private business interests, and digital assets. Prime’s core strength is its cutting-edge technology stack that allows for the creation of customer accounts, contributions utilizing a wide array of payment rails, disbursements, and then most importantly, instantly settling internal transfers that power Prime’s PrimeX Exchange Network. As a Prime Trust client, companies can create accounts at Prime for each of their end users leveraging a financial institution as a service for compliance, funds processing, custody, and double ledgering.
Prime Trust has built industry leading products in the digital asset space for stablecoins, exchanges, and institutions requiring custody.
Prime Trust also provides escrow services for securities transactions, IRAs, assets protection trusts, college savings accounts, and financial infrastructure to fintech companies outside of the blockchain space.
Prime Trust has just launched PrimeX, tell us more about it and how it works.
PrimeX is our lightning fast, secure exchange network that simplifies asset transfers for exchanges and OTC desks. Transactions can take place between our customers’ Prime Trust accounts and to any of their approved counterparties in real-time. PrimeX is used by industry-leading exchanges, OTC desks, market makers, stablecoins, and traders – giving our clients 24/7 access to send and/or receive various assets (USD, GBP, EUR, Yen, BTC, ETH, ERC-20, etc.) at scale, anytime, from anywhere, instantly. With disbursements immediately available, their assets are where they want them to be when they need them to be there completely outside of normal banking hours. We’ve put together a neat comparison chart to show how superior PrimeX is over other exchange networks out there.
Prime Trust has notable partners in the blockchain space – ex. Huobi, OKEx and stablecoin, Trusttoken; how did these partnerships come about and how do they benefit Prime Trust the most?
Prime Trust is building technology-driven global financial infrastructure. Partnerships come about from companies that realize the need to leverage this infrastructure to accelerate their business and to build their business on top of. With such a diverse range of leading institutions as clients, Prime has started PrimeX to solve the limited availability of FIAT and other settlements to give institutions access to a 24/7 network. The more participants are on the network, the more valuable the network becomes. Growing this network is really how Prime Trust benefits the most. Prime’s clients can trade assets on one exchange, instantly move the funds to another exchange to trade, and then move them right into custody with Prime in their own account. This frictionless process is available globally to our client base.
We understand Prime Trust is chartered, insured and regulated; however, how safe is the Prime Trust platform?
Prime Trust prides itself on building the gold standard set of industry products and services. Prime routinely undergoes third party security audits from an assortment of security companies ranging from smart contract audits to physical security assessments. Prime Trust takes its duty to protect assets as the most important cultural value.
Could you tell us about your team and customer support?
Prime Trust actually has three customer service teams: frontline customer support, operations support, and technical support. Our team is assembled from all around the country to find experts in their respective fields. Prime draws talent from all parts of the industry including investment banking, trading, security, trust, traditional banking, and blockchain.
Do you have more information for our readers?