We announced today an industry-changing shift in the cost of custody for digital assets and now charge zero AUM fees on custody, including Bitcoin, Ethereum, ERC20, and Stellar. We are now offering the world’s first no-fee digital asset custody solution from a qualified custodian.

Historically, qualified custodians charge a laundry list of crypto custody fees that include AUM-based fees ranging from 4bps to 10bps/month. The ground-breaking $0 AUM fee is unmatched by any other qualified custodian and reduces friction and out-of-pocket costs for portals, exchanges, broker-dealers, stablecoins, real estate investors, and many others.

When someone holds stocks, bonds, mutual funds, ETFs, real estate, private securities or other assets at a custodian such as Schwab, Robinhood, Northern Trust or JP Morgan they don’t pay fees based upon the market value of those assets,” said Scott Purcell, CEO and Chief Trust Officer of Prime Trust. “It doesn’t matter if you hold, for example, $500 or $50,000,000 worth of Apple stock in your account – there are no percent-of-asset-value-based fees. So why the heck are qualified custodians charging to custody digital assets? This move continues to underscore our mission to make it easier for our customers to do business and bring tokenized-asset services in line with the rest of the financial world.”

We welcome institutions, exchanges, OTC Desks, broker-dealers, funding portals, STO platforms, stablecoins, and others involved in the new digital economy to connect via our proprietary APIs and work together to leverage different business models that are made easier by holding BTC, ETH, ERC-20, and stellar tokens with a regulated, qualified custodian.

Learn more about our announcement on Coin Desk https://www.coindesk.com/prime-trust-now-charges-no-fee-for-crypto-custody

To read our new fee schedules click here.

Author

Scott Purcell is the CEO and Chief Trust Officer of Prime Trust, the blockchain-driven trust company. His firm provides trustee, custody, escrow, AML, KYC, payment processing, accounting, and compliance for numerous stablecoins, exchanges, platforms, broker-dealers, investment advisers, portals and others who are building business that are changing the world.