Equity crowdfunding platform startup StartEngine and PrimeTrust announce first ever Regulation Crowdfunding crypto escrow

Equity crowdfunding platform startup, StartEngine, and PrimeTrust announce they are preparing the launch of the first ever Regulation Crowdfunding crypto escrow. The escrow is being developed by PrimeTrust and will be available first on StartEngine’s platform. This escrow will allow Regulation Crowdfunding offerings to accept cryptocurrencies, such as Bitcoin and Ether, as investments for the first time in the U.S. StartEngine made the revelation at the StartEngine ICO 2.0 Spring Summit today in Los Angeles. Scott Purcell, CEO of PrimeTrust, told an audience of 1,000 attendees about the ongoing development of the crypto escrow during the panel “Secrets to Managing an ICO 2.0.”

Founded in 2011 by Howard Marks, Paul Kessler, Ron Miller, and Ron Miller, the Los Angeles-based StartEngine is an Equity Crowdfunding platform helping entrepreneurs realize their dreams. The company connects everyday investors with tomorrow’s progressive companies. Utilizing its expertise in regulated exempt offerings under the Securities Act, StartEngine has raised capital for more than 160 companies and has over 140,000 registered investors. StartEngine aims to revolutionize the ways companies raise capital and to helping entrepreneurs achieve their dreams. StartEngine Crowdfunding is a not a broker-dealer, funding portal or investment adviser. StartEngine Capital, LLC is a funding portal registered with the US Securities and Exchange Commission (SEC) and as a member of the Financial Industry Regulatory Authority (FINRA).

Prime Trust is the leading technology-driven trust company with a focus on securities escrow & compliance, asset protection and custodian for privately issued securities. Their team has deep experience in all facets of trust operations, banking, securities regulation, and governmental affairs.

“As a regulated, insured financial institution we had to approach this cautiously,” said Scott Purcell, CEO and Chief Trust Officer at Prime Trust, “while at the same time, as the leading tech-driven trust company in the country, we listened to our customers who were demanding we get this service launched.”

StartEngine is the premier equity crowdfunding platform in the US, with the most launched Regulation Crowdfunding campaigns to date. StartEngine democratizes access to capital for entrepreneurs and helps companies issue securities to the public through exemptions from registration under the Securities Act.

“As StartEngine launches more ICOs, it was a natural decision for us to add cryptocurrencies as a payment option for investors across all offerings, ICOs or otherwise, on our platform,” said Howard Marks, co-founder and CEO of StartEngine. “There is clearly a lot of potential in the crypto market, and at StartEngine, we want to make sure that entrepreneurs have access to every tool at their disposal to raise capital.”

This development marks the latest effort from companies that are creating a regulated crypto marketplace, similar to other existing US financial institutions that handle securities and operate compliantly under the Securities Act. StartEngine also offers a team of mentors who have proven themselves as successful entrepreneurs – not professional investors – ensuring that its startups are guided by the right people for the right reasons. Early-stage companies in the web, mobile and ecommerce space are encouraged to apply for the program which completes four cycles per year, culminating in Demo Days that are attended by the region’s top angel investors and VCs.