BitGo, a leader in digital asset trust and security, has announced that it has terminated its acquisition of Prime Trust, a technology-driven financial institution that provides custody and escrow services for the digital asset industry.
The decision was made after considerable effort to find a path forward with Prime Trust, but ultimately, BitGo encountered insurmountable challenges that made it impossible to move forward with the acquisition.
BitGo And Prime Trust Part Ways
On June 8th, 2023, the company announced signing a non-binding term sheet to acquire 100% of the equity of Prime Core Technologies, Inc., the parent company of Prime Trust.
The acquisition was expected to bring business continuity, long-term stability, and regulated, secure solutions to Prime Trust’s clients. With this acquisition, BitGo could have become the first global digital asset company to provide a full suite of solutions for institutions and fintech platforms.
In the June 8th announcement, Mike Bels
We współpracy z: https://bitcoinist.com/bitgo-pulls-the-plug-on-prime-trust-acquisition/
