Prime Trust, an American trust company, will provide banking services to the BlockQuake cryptocurrency exchange, which has already introduced a beta version of its platform.
Prime Trust collaborates with severalcryptocurrency exchanges, including Binance, OKCoin and Bittrex. As part of the new partnership, the company will conduct a KYC / AML audit, as well as service accounts that are insured by the Federal Deposit Insurance Corporation (FDIC).
In addition, Prime Trust has offered exchange customerscryptocurrency cold storage service. BlockQuake developers said that at the moment the platform is at the testing stage and is available only to a certain number of users. The launch of the site is scheduled for the second quarter of 2020.
BlockQuake Signed Up Last MonthThe United States Financial Crime Network (FinCEN), as well as applied to the New York State Department of Financial Services for a BitLicense, after which the exchange will be able to freely work with residents of this state.
BlockQuake CEO Antonio Brasse(Antonio Brasse) said that digital asset trading is gaining momentum, so it is extremely important to comply with the requirements of regulators and register with all the necessary institutions that control cryptocurrency activities in order to reduce risks for traders and investors.
In March last year, Prime Trust announced plans to launch its own stablecoin OKUSD in conjunction with the OK Group, and in August 2018, the company created a repository for bitcoins and ERC-20 tokens.