Prime Trust raises $107 million to expand crypto custody business

Prime Trust, a provider of infrastructure solutions in fintech and digital assets, has raised $107 million in a Series B round, according to a пресс-релизе.

Investors include FIS, Fin Capital, Mercato Partners, Kraken Ventures, Commerce Ventures, Gaingels, GateCap Ventures, Seven Peaks Ventures and others.

The proceeds will be used to support existing offerings and to develop new solutions, including DeFi and Web3 products.

The company will also invest in launching Prime Trust Crypto IRA, enabling clients to invest retirement funds in crypto assets.

In 2018, Prime Trust announced its entry into the crypto custody market.

Last year, as part of a Series A round, the company raised $64 million.

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