Prime Trust, a blockchain driven trust company, announced on Monday it has launched a new technology that enables real estate syndicators and securities issuers to accept funds from investors in the form of Bitcoin and Ethereum, frictionlessly and with zero crypto-market risks to the syndicator or issuer. According to Prime Trust, the technology enables holders of these virtual currencies to invest in real estate, crowdfunding and other private and public securities offerings without having to go through the cumbersome and often confusing process of liquidating tokens and then wiring funds in USD to an escrow account at Prime Trust.
“With Prime Trust’s transaction technology, real estate syndicators, portals, platforms, brokers and direct-issuers can now accept investments with minimal friction, regardless of whether the investor is remitting funds to escrow via wire, ACH, check, credit card, Bitcoin or Ethereum.”
Prime Trust also reported that the transaction technology presents the investor with funds delivery instructions specific to the method they chose to send funds. Scott Purcell, CEO of Prime Trust, stated:
“Demand for people to be able to use digital currency as a method of remitting funds for investments they make in real estate, as well as traditional Reg D, Reg A, Reg S, and Reg CF offerings has been dramatic. After years of leading the crowdfunding and real estate industries with technology-driven escrow, compliance, KYC, AML and other services, adding Bitcoin and Ethereum is a natural extension of what we provide our portal, broker, real estate syndicator, adviser and direct-issuer customers.”
The technology is now out of beta and released for select Prime Trust customers. It is available both via API’s and via the Prime Trust “Invest Now” Plug & Play transaction engine. Prime Trust’s new technology launch comes just weeks after the company acquired FundAmerica, a securities escrow software provider that is widely used in the crowdfunding industry. Purcell stated at the time:
“I am pleased to announce that Prime Trust has acquired FundAmerica! This has been a “key vendor” relationship, with Prime Trust developing a massive amount of proprietary software on top of FundAmerica’s code-base, so the acquisition is symbiotic for everyone involved.”