Prime Trust, a well-known financial institution that offers custodial and banking services, has made an announcement about temporarily stopping its deposit and withdrawal services. This decision comes as Prime Trust encounters regulatory compliance challenges, as stated in a public notice released on its official website.
According to the notice, Prime Trust has temporarily suspended its deposit and withdrawal services due to concerns raised by its regulatory partner, NV Fid. NV Fid is responsible for ensuring compliance with various financial regulations and has identified potential issues that require a thorough investigation.
The specific reasons behind NV Fid’s concerns have not been disclosed, but Prime Trust is committed to resolving the issues promptly. The institution is actively working with NV Fid and other regulatory entities to address compliance concerns and reinstate deposit and withdrawal functionality as soon as possible.
While the deposit and withdrawal services are temporarily suspended, Prime Trust will continue to provide other services such as account management and trading activities to minimize disruption for its customers. The institution emphasizes that customer funds and assets are secure and unaffected by the current situation.
Prime Trust advises its users to stay updated through official communication channels for any updates and instructions regarding the resumption of deposit and withdrawal services. The company acknowledges the inconvenience caused by the temporary suspension and appreciates the patience and understanding of its customers.
Prime Trust and NV Fid are working together to resolve compliance concerns and ensure a prompt restoration of full deposit and withdrawal services for seamless customer transactions. Prime Trust remains committed to transparently addressing the situation and looks forward to restoring its comprehensive range of services to better serve its valued customers.
Compiled by Coinbold
