Prime Trust Launches the Only All-In-One IRA Solution After Successful Beta Program

LAS VEGAS, Oct. 24, 2022 /PRNewswire/ -- Prime Trust, the leading provider of financial infrastructure for fintech and digital asset innovators, today opens its Crypto IRA to the public after a successful beta program launched earlier this year with businesses like SwanBitcoin, Coinbits, The Black Wall Street App & Digital Wallet and OnRamp.

The Prime Trust Crypto IRA is the only API-enabled product that allows enterprises to offer their customers the opportunity to invest retirement funds in digital assets and take advantage of the tax benefits.

This year, the macroeconomic landscape has seen constant change. As the markets have shown signs of downturn globally, investors are looking for alternative asset classes to diversify their portfolios. As interest in digital assets rose dramatically in 2021, more people have come to understand that cryptocurrency is here to stay. With this in mind, there has been an uptick in demand from financial services organizations (FSOs) for products that enable long-term investments in digital assets.

"As a digital asset infrastructure provider, we pride ourselves in introducing new products that enable mass adoption of cryptocurrency," said Tom Brandl, Chief Operating Officer for Prime Trust. "As an alternative investment vehicle, cryptocurrencies garner interest from those who want to diversify their portfolio and invest for the long term, particularly under the current market conditions. We've definitely witnessed an increasing demand from IRA providers to add cryptocurrencies to their product mix. Our goal is to make the integration frictionless for IRA providers and the user experience familiar for investors."

"As one of the best-performing assets of all time, owning Bitcoin in a tax-advantaged way is more important for Bitcoin than most other assets. That's typically either been difficult to do, or highly expensive," said Cory Klippsten, CEO of Swan. "In collaboration with Prime Trust, Swan made it very simple for millions of people to own actual Bitcoin in an IRA, Roth IRA, SEP IRA or Self 401(k). We've seen great demand for this solution and are thrilled to empower our clients to own Bitcoin however they want to hold it."

Using Prime Trust's institutional-grade financial API technology, the company's IRA offering includes:

• Traditional and ROTH IRAs
• Rollover and transfer in support
• Full IRA statements and tax reporting via API
• In-account trading pairs from USD to BTC, ETH, SOL, LTC, ADA, AVAX, and more
• Institutional grade security, including storage architecture supported by MPC technology

Prime Trust's Crypto IRA is a tool that facilitates building wealth and expanding cryptocurrency's value as a means for financial inclusion. One example is Prime Trust's collaboration with The Black Wall Street App & Digital Wallet, which is a digital wallet and exchange that helps Black Americans onboard into the cryptocurrency ecosystem and is one of Prime Trust's beta integrators. Black Wall Street is now offering Prime Trust Crypto IRA to its users.

"Giving people the wherewithal to invest responsibly, the tools to invest strategically and the support to understand their finances are key to building wealth in our community," said Hill Harper, founder of The Black Wall Street App & Digital Wallet, one of Prime Trust's beta integrators. "Many marginalized communities do not have access to the same investment tools that others have. Prime Trust's Crypto IRA will enable investors on the TBWS platform to easily add crypto offerings to diversify their portfolios in a secure, compliant and tax-advantageous way." 

The Black Wall Street App & Digital Wallet, SwanBitcoin, Coinbits and OnRamp are now offering Prime Trust Crypto IRA to their users.

If you'd like to learn more about Prime Trust Crypto IRA, please visit https://www.primetrust.com/crypto-ira.

Prime Trust powers innovation in the digital economy by providing fintech and digital asset innovators with financial infrastructure. Through a full suite of APIs, we help clients build seamlessly, launch quickly, and scale securely. Regulated by the State of Nevada, Prime Trust processes hundreds of millions of API calls per month. Prime Trust's team has extensive regulatory and financial services backgrounds from the OCC, SEC, Federal Reserve, U.S. Department of Justice, Department of Homeland Security/Secret Service, JPMorgan Chase, American Express, PNC, Bank of America, and Visa. The company is recognized by Forbes as America's Best Startup Employer 2022 and is Great Place to Work-Certified™ 2022. Prime Trust has also been named to CB Insights Blockchain 50 and the Fintech 250 for 2022. Visit us at www.primetrust.com and connect with us on LinkedIn, Twitter, and Facebook.

SOURCE Prime Trust, LLC

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED