Prime Trust Wins Coveted Spot on 2022 CB Insights Blockchain 50 List of Most Innovative Blockchain Startups
NEW YORK, March 1, 2022 /PRNewswire/ -- Prime Trust, the one-stop shop for financial infrastructure for fintech and digital asset innovators, today announced it has been selected as a winner for CB Insights second annual Blockchain 50, which showcases the 50 most promising blockchain and crypto companies in the world.
Founded in 2016, Prime Trust stands at the intersection of the digital asset ecosystem, with over $3.5B transactions processed per month. The company's mission critical financial infrastructure enables the seamless, secure flow of digital assets including qualified custody, payment rails, indemnity, liquidity, settlement, fundraising and more. Prime Trust's plug and play APIs and widgets power the world's leading crypto exchanges, NFT creators, digital wallets, Alternative Trading Systems, RIA platforms, broker dealers, crowdfunding platforms, and neobanks.
"2021 was the year blockchain entered our mainstream vocabulary," said Brian Lee, SVP of CB Insights' Intelligence Unit. "It powers some of our most innovative and cutting-edge technologies. Last year, we saw incredible success from the Blockchain 50 winners. This year, included among the winners we have 31 unicorns, 41 mega-rounds, and representation from 15 countries. We're excited to follow their journeys and see their success in 2022."
"Being recognized for the second time by CB Insights for its Blockchain 50 list reinforces Prime Trust's leadership in helping companies build their financial futures using our blockchain technology and digital asset know-how," said Tom Pageler, Chief Executive Officer at Prime Trust. "Prime Trust has experienced explosive growth in the past year, and we are deeply committed to ensuring that all of our clients have a best-in-class experience. We are seeing cryptocurrency move from a nice-have to a must-have. As we move to a digital-first economy, Prime Trust will continue to pave the way in making crypto accessible for everyone."
Through an evidence-based approach, the CB Insights research team selected the Blockchain 50 from a pool of over 3,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights' proprietary algorithm that measures the overall health and growth potential of private companies.
Prime Trust has had an impressive year; some key metrics of growth include:
- AUC: Assets under custody have increased 280% year-over-year.
- API calls & transaction settlement: We processed 300 million API calls, and settled up to $3.5 billion per month.
- New accounts: Hundreds of industry-leading names chose Prime Trust in 2021, leading to a 2000% increase in new accounts, all opened via our API platform.
- Leading market segment: Crypto apps have surged, with a more than 45% growth in our customer base, and we expect this trend to continue into 2022.
- Equity crowdfunding infrastructure: Over the past year in crowdfunding, we've seen a 31% increase in individual investors and a 34% increase in dollars invested across 1000 new offerings powered by FundAmerica by Prime Trust.
- Strategic investors: Our $64M Series A included strategic investors Mercato Partners, Samsung Next, Nationwide, Commerce Ventures, Ayon Capital, Kraken Ventures, STCAP, s20 Capital, Seven Peaks Ventures, Diverse Angels, University Growth Fund and Nevcaut Ventures.
- Team: In just one year, our team has more than doubled in head count, with new talent joining us remotely and in-person at our headquarters in Las Vegas, Nevada.
- Certification: In July, we earned our ISO/IEC 27001:2013 designation certifying that Prime trust meets the industry's most stringent information security-management standards.
The 2022 Blockchain 50 cohort has raised $17.1B in aggregate funding across over 200 deals since 2016 and includes startups at different investment stages of development, from early-stage companies to well-funded unicorns.
2022 Blockchain 50 Investment Highlights:
- Unicorns: 31 of the 50 companies (62%) are valued at or above $1B as of their latest funding round.
- Funding trends: These 50 companies raised $13.2B in equity funding in 2021 across 83 deals (excluding token sales).
- Mega-rounds: In 2021, there were 41 mega-round ($100M+) equity investments to this year's Blockchain 50, nearly half of the total deal count.
- Global representation: This year's winners are based in 15 countries, with 44% of the companies based outside of the US. After the US (28 companies), the UK is home to the second most Blockchain 50 companies (5), followed by Canada, France, Singapore, and Switzerland (all at 2).
- Top investor: Coinbase Ventures is the most active investor in this year's Blockchain 50, having invested in 16 of the 50 companies. Andreessen Horowitz is second with 14 companies, followed by Paradigm at 13.
About Prime Trust
Prime Trust is the one-stop shop for financial infrastructure for fintech and digital asset innovators. Our API platform and plug-and-play widgets allow companies to build seamlessly, launch quickly, and scale securely. Prime Trust powers mission-critical infrastructure for many of the world's leading crypto exchanges, lending platforms, digital wallets, payment platforms, ATS's, RIAs, wealth management platforms, broker-dealers, and crowdfunding platforms.
Prime Trust's team has extensive regulatory and financial services backgrounds from the OCC, SEC, Federal Reserve, US Department of Justice, US Treasury/Secret Service, JPMorgan Chase, Green Dot, American Express, PNC, Bank of America, and Visa. For more information, visit www.primetrust.com
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
SOURCE Prime Trust, LLC
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article