APT Systems, Inc., a software development and fintech company, has announced the selection of Prime Trust, LLC as a strategic technology collaborator. APT Systems and Prime Trust together will manage its financial infrastructure to provide a range of financial services, including onboarding of new accounts and facilitating wallets for purchasing and holding of Spera stablecoins.
“We are delighted to be working with the Prime Trust team as their proven performance within the world of digital fintech means they can help ensure a faster release of Spera, meeting regulatory oversight, and that our operations are more secure,” says Glenda M. Dowie, CEO of APT Systems. “We are taking advantage of the Prime Trust APIs and platform—rather than investing the time to create our own—in a move to provide a strong and timely technology foundation for our stablecoin, as well as to greatly reduce our time to launch Spera.”
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Prime Trust was recently honored by Forbes, being named to the Forbes list of America’s Best Startup Employers of 2022, and earlier this month was named for a second time to CB Insights’ Blockchain 50 list of the 50 most promising blockchain and crypto companies in the world.
“Spera is envisioned to be a widely used fiat-to-digital cryptocurrency that is supported and monitored by Members of the Verifundr platform to bring safety, transparency and instant payments to parties entering into transactions,” said Danny Sofer, VP Institutional Sales, Prime Trust. “Prime Trust’s API platform with its single point of integration is specifically designed to enable companies like APT to innovate and scale securely at an accelerated pace.”
Spera is a stablecoin, meaning it is backed by collateral assets so that the value of Spera will always be $1. “Spera is a true stablecoin, backed by U.S. dollars and gold—transparently held by financial institutions, and auditable,” Dowie says. “Prime Trust is the perfect technology provider to help us bring Spera to the world, which increasingly views stablecoins as an essential tool because their value is constant, and easily replace dollars in traditional banking functions.”
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“We know markets are anticipating release of Spera, from registrations on our pre-sale list,” Dowie says. “We are confident that Prime Trust, with $3.5 billion transacted and settled monthly, can meet all of our scaling needs.”
APT Systems is developing Spera to work seamlessly with its Verifundr digital escrow application, which uses smart contracts in part to serve as a neutral third-party to ensure funds are duly released upon both parties fulfilling their contractual obligations. The blockchain-supported portion of Verifundr makes it ideally suited for escrow and payment functions, while Spera provides users the protection from volatility while funds are being held in escrow.
“Tapping into the technology of Prime Trust brings us closer to launching Spera,” Dowie says. “We’ve just checked off another major box as we continue the countdown to releasing Spera.”
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