BitGo Holdings Inc. Announces Non-Binding Agreement to Acquire Prime Trust, Pioneering Full Suite of Solutions for Fintech Platforms
Prime Trust, the parent company of Prime Core Technologies Inc., has long been recognised as a leading financial infrastructure provider for Fintech and digital asset innovators. The company offers a range of solutions that enable secure and regulated transactions in the digital asset space.
Now, with the potential acquisition by BitGo Holdings Inc., Prime Trust’s clients can look forward to even greater benefits.
Prime Trust clients can expect enhanced services and security through the potential acquisition
BitGo, a renowned digital asset trust and security company, has announced its intention to acquire 100% of the equity of Prime Core Technologies Inc., the parent company of Prime Trust.
In addition, this move signifies BitGo’s commitment to expanding its digital asset and fintech infrastructure services worldwide. The acquisition will position BitGo as the first international digital asset firm to offer a comprehensive suite of solutions for fintech platforms.
While the agreement between BitGo and Prime Trust is currently non-binding, it represents a significant step forward for both companies.
Further, it is likely that BitGo is conducting additional due diligence, ensuring that the acquisition aligns with its strategic goals. This cautious approach mirrors similar high-profile acquisitions, such as Elon Musk’s announcement to purchase Twitter, where additional evaluations were necessary before finalising the deal.
Enthusiasm from Prime Trust and BitGo Leadership
Jor Law, the interim CEO and President of Prime Trust, expressed enthusiasm for the potential merger, emphasising the benefits it would bring to the industry. Moreover, he stated,
“The combination of Prime Trust and BitGo would be a significant enhancement for the industry. No other company will have the breadth of product and services nor depth of experience that this combined company would have. We are excited to offer our world-class infrastructure within a broader ecosystem and revolutionize the future of crypto.”
BitGo CEO and Co-founder Mike Belshe also shared his perspective on the acquisition, recognizing its significance in driving a transformative shift in the digital asset space. In addition, Belshe described the transaction as a “landmark transaction” that will position BitGo to enhance its trusted solutions and serve an expanded customer base.
Acquisition to create a formidable force in the digital asset and Fintech industry.
BitGo Holdings Inc. has a strong reputation for its credibility and adherence to top-tier operational standards. This solid foundation, coupled with its financial stability, makes BitGo an ideal partner for Prime Trust and its clients.
Despite current market challenges, the acquisition promises to bring about a paradigm shift in the level of services and security provided to Prime Trust’s clients.
As the acquisition progresses and the deal solidifies, both BitGo and Prime Trust will continue to work towards integrating their services and expertise. This strategic partnership has the potential to reshape the digital asset landscape, providing clients with enhanced security, stability, and regulatory compliance.
Overall, the intended acquisition of Prime Trust by BitGo is poised to create a formidable force in the digital asset and Fintech industry. The combined strengths of the two companies will drive innovation, foster trust, and accelerate the adoption of digital assets worldwide.
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