Crypto custodian Prime Trust raises $100 million to add IRAs, staking to services suite

Crypto custodian Prime Trust raises 0 million to add IRAs, staking to services suite


People walk through the North American Bitcoin Conference held at the James L Knight Center on January 18, 2022 in Miami, Florida.

Joe Raedle | Getty Images

Crypto custody and infrastructure startup Prime Trust has raised more than $100 million in Series B funding to expand its suite of financial products and services.

The company plans to add crypto retirement accounts and staking products to its suite of products, increase its support for tokenized products, like NFTs, and expand its infrastructure and security offerings. Staking products allow investors to use crypto holdings to earn yield, or other rewards.

“We see lots of the large banks, customers wanting to have tokenized securities being able to trade traditional assets 24/7,” Tom Pageler, chief executive officer at Prime Trust told “Crypto World” Wednesday. “This funding will ensure we can bring that value add to all of our customers.”

Payment processing firm FIS is among the investors in the round along with Fin Capital, Mercato Partners, Kraken Ventures, Commerce Ventures, William Blair & Co. and others.

Prime Trust serves about 700 customers, ranging from crypto exchanges, on ramps, wallet apps, ATSs, RIAs, broker dealers and banks. Pageler said investors weren’t too spooked by the bearishness in the market this year and saw the timing of the investment as a good opportunity.

“We’re seeing crypto and the traditional markets going up and down together, which is great,” Pageler said. “It means that crypto, digital assets have become a well-established market; they’re trending with the global economy in general.”



Source

Lyft shares pop 20% after buyback; CEO says there are no signs of worry in the consumer
Technology

Lyft shares pop 20% after buyback; CEO says there are no signs of worry in the consumer

Lyft CEO David Risher poses for a portrait in New York City, U.S., April 16, 2025. Kylie Cooper | Reuters Lyft shares climbed 20% Friday after the ride-sharing company upped its share buyback plan and posted better-than-expected gross bookings. During an interview with CNBC’s “Squawk Box,” CEO David Risher said that Lyft isn’t seeing “anything […]

Read More
Pinterest shares rise 15% on better-than-expected guidance
Technology

Pinterest shares rise 15% on better-than-expected guidance

Bill Ready, CEO of Pinterest, rings the opening bell at the New York Stock Exchange on May 15, 2024. Brendan McDermid | Reuters Pinterest shares rose 15% in extended trading Thursday after the company reported first-quarter earnings and provided better-than-expected guidance. Here’s how the company did, compared to analysts’ consensus estimates from LSEG: Revenue: $855 […]

Read More
Celsius CEO Alex Mashinsky sentenced to 12 years in multi-billion-dollar crypto fraud case
Technology

Celsius CEO Alex Mashinsky sentenced to 12 years in multi-billion-dollar crypto fraud case

Alex Mashinsky, former chief executive officer of Celsius Network Ltd., arrives at court in New York, US, on Thursday, May 8, 2025. Yuki Iwamura | Bloomberg | Getty Images Alexander Mashinsky, the former CEO of Celsius Network, was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud, a […]

Read More