OKCoin invests in custody firm Prime Trust

18 Apr, 2019
by David Borman
News
OKCoin invests in custody firm Prime Trust

It has been reported by Coindesk that the exchange OKCoin recently invested an undisclosed amount of money into Prime Trust, a crypto custody provider. This comes as the company also is looking to launch a stablecoin on the OKChain blockchain.

On Wednesday, Prime Trust CEO Scott Purcell said in a letter to customers that the firm had closed a funding round, led by OKCoin. Prime Trust is already a partner with OKCoin in that the exchange recently added a new payment channel that allows deposits through Prime Trust with no fees.

Just last month, Prime Trust announced that it was looking to launch its own stablecoin onto the OKChain blockchain, which would be called OKUSD. Similarly, a decentralized exchange (DEX) built on OKChain is also being worked on.

It sounds like a bright partnership is forming between Prime Trust and OKChain. Will this lead to a stronger ecosystem in the future? Stick with Chepicap for all updates!

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