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Velocity Ledger Working with Prime Trust to Build Digital Assets Custody

By Tracy Hannes | March 1, 2019
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Velocity Ledger Working with Prime Trust to Build Digital Assets Custody

Technology enterprise Velocity Ledger Financial and Prime Trust have teamed up for digital asset custody business.

Through this partnership, issuance and custody of digital assets of the two firms will bolster the growth of tokenized assets. Issuers and investors in these assets will automatically register with Prime Trust directly from the Velocity Ledger Financial platform to open custodial accounts for venture transactions.  

“Velocity Ledger Financial is an institutionally focused marketplace for digital assets. The Exchange and Custodial functions are each independently regulated companies with their own enterprise level systems that interoperate around the use of private and public blockchains”, saying Julian Jacobson, Chief Operating Officer of Velocity Ledger Financial

Commenting on the partnership, Scott Purcell, CEO and Chief Trust Officer at Prime Trust said: “We are excited to work with Velocity Ledger as they bring marketplace technology and tools to the emerging digital economy, paving the way for an exciting new future of liquidity options for tokenized assets of all types.”

As a digital currency trading platform, Velocity Ledger Financial has reportedly applied for a Digital Asset Business Act (DABA) license to operate a Digital Assets exchange in Bermuda, where it will operate issuance and secondary trading services for structured REIT and investment tokens.

Previous in Jan 2019, U.S. financial institution Prime Trust announced that they now charge zero AUM fees on custody, making it the world’s first qualified custodian which offers free digital asset custody solution.

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