VL Financial selects Prime Trust as a custodian

Prime Trust has just been selected by technology solution Velocity Ledger Financial (VL Financial) as its preferred custodian. The two companies will facilitate the issuance and custody of digital assets, supporting the growth of tokenized assets in the new digital economy.

VL Financial has applied for a Digital Asset Business Act (DABA) license to operate a Digital Assets exchange in Bermuda, where it will operate issuance and secondary trading services for structured REIT and investment tokens. It is expected to go live in the second quarter of 2019.

Scott Purcell, CEO and Chief Trust Officer at Prime Trust, commented:

We are excited to work with Velocity Ledger as they bring marketplace technology and tools to the emerging digital economy, paving the way for an exciting new future of liquidity options for tokenized assets of all types.

Velocity Ledger Financial is an institutionally focused marketplace for digital assets,” added Julian Jacobson, Chief Operating Officer of VL Financial. “The Exchange and Custodial functions are each independently regulated companies with their own enterprise level systems that interoperate around the use of private and public blockchains.

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