Cryptocurrency custody company BitGo has reached a preliminary agreement to acquire Prime Trust, another Nevada-regulated cryptocurrency custody company, according to two people familiar with the matter.
It is reported that the transaction is still in the preliminary stage and still needs regulatory approval. The sources did not disclose financial terms of the deal. BitGo subsequently confirmed in a blog post that it had signed a term sheet to acquire Prime Trust’s parent company, Prime Core Technologies. (CoinDesk)
