Financial infrastructure development firm, Prime Trust is now looking into working with retirement funds in the United States.
New Crypto IRA Beta
According to Chief Product Officer a Prime Trust, Sara Xi, around half of the wealth present in the United States is associated with retirement funds, so if they manage to access even a single percent of that, it could lead to valuation numbers in the triple digit billions.
So, to take advantage of this motive, Prime Trust has now scheduled the Beta testing phase for its unique Crypto Individual Retirement Account (IRA), which has the advantage of containing only a single application programming interface (API). This new and unique solution will enable not only fund accounts, but also help users utilize their retirement funds into the cryptocurrency space.
Protecting Assets
Prime Trust will be giving the option for both conventional and ROTH IRAs, including the addition of digital asset insurance to their users. Securing and protecting precious assets of their users has been one of the most important factors to make this project successful, so Prime Trust has put a lot of effort in utilizing the best technological ways to achieve it.
The IRAs will also be available for already registered users, who will also have to apply for Beta access and will be supported by the firm’s advanced financial API tech that includes crypto custody, transactions and other great features.
Tax Gains
Sara Xi stated that this overall structure is welcomed by clients because of the added taxation gains. Regarding the taxation gains, Sara Xi said that conventional investment mentors are willing to promote cryptocurrencies as an alternative investment vessel to their clients.
Xi also mentioned about crypto wallet applications performing great in terms of crypto trading, however users want to make the most out of their tax benefits in order to utilize a portion of their retirement fundings into cryptocurrency, because cryptocurrencies have now achieved a level where investing in them is something that is normal
Huge Market Potential
The level of optimism from Sara Xi can be seen as quite a positive attribute, as she stated that the market is vast, and competitors are welcome to challenge Prime Trust’s efforts in bringing together a smooth for users to get into cryptocurrencies.
