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Podcast: Embedded custody services and crypto IRAs using fintech APIs, with Prime Trust CEO Tom Pageler
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Podcast: Embedded custody services and crypto IRAs using fintech APIs, with Prime Trust CEO Tom Pageler

Hi Fintech Futurists —

Welcome back to our podcast series! For those that want to subscribe in your app of choice, you can find us at Apple, Spotify, or on RSS.

In this conversation, we chat with Tom Pageler, the CEO at Prime Trust. Prime Trust is a one-stop-shop for API-based financial infrastructure for fintech and digital asset innovators. Previously Tom worked as CSO and COO at crypto-custodian BitGo, as well as CRO and CSO at Neustar. Additionally, Tom has held senior risk and security positions at DocuSign, JP Morgan Chase, and Visa over the course of 15 years.

Additionally, Pageler served as a Special Agent with the U.S. Secret Service, where he established the San Francisco Electronic Crimes Task Force, in which he was responsible for identifying, apprehending and successfully extraditing leaders of a large organized crime ring in the Eastern Bloc. Tom has also provided physical security for the President of the United States, the Vice President, their families and foreign heads of state.


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Timestamp

  • 1’24”: From the US Secret Service to fraud control at Visa - what kickstarted this journey?

  • 3’58”: Transitioning from the public to the private sector and building an electronic crimes task force

  • 6’15”: The goals of payment network VISA relative to the e-commerce in which it participated

  • 9’15”: Dispelling the myths around risk in e-commerce and how these narratives evolved into crypto

  • 14’15”: The definition of a security engineer and how hackathons are used to counter vulnerabilities

  • 16’16”: DocuSign and how it compares to the fundamental structure of a blockchain, as well as, how it works

  • 20’07”: Joining crypto-custodian BitGo and how that lead to joining Prime Trust

  • 21’47”: Prime Trust – what it is and how it has grown over the years

  • 24’01”: The differences between a trust company or a trust custodian versus a depository institution like a bank versus a brokerage custodian like BNY Mellon

  • 29’18”: The archetypes of the customers and clients of Prime Trust

  • 31’27”: Prime Trust’s go-to-market strategy and how APIs as a product feature and distribution mechanism are used

  • 34’53”: The vision and mechanisms for growth for Prime Trust over the next year, given the current market state

  • 38’17”: The view on where American regulation will land with regards to the crypto industry

  • 40’29”: Channels to use to connect with Tom and/or to learn more about Prime Trust


Sneak Peek:

Tom Pageler:
…if you were thinking about doing your own traditional banking relationship and your own compliance, you probably wouldn't do it right now for one of our customers, just because you're trying to cut costs similar to if I was going to build a data center myself right now, I probably wouldn't.

Prime Trust Launches Proprietary Core Banking Software for Fractional  Assets, Including Cryptocurrency

I would just use AWS, Azure, Google Cloud, something like that. So, we're seeing an uptick with us just because I think we're an outsourced model. So, in a down economy, it makes sense to come to us. And then specifically, obviously I said the wealth management, some holding, and then we're seeing more interesting use cases just coming up with smart contracts.

So Ethereum, Stellar-based or NFTs and more like a traditional space where it's not necessarily selling artwork or something like that, but it's more using the NFT to track things, like guarantee that Louis Vuitton purse that you're selling is a Louis Vuitton purse, or a smart contract that's used in some way to ensure that expediting some agreements.

How To Spot Real Vs Fake Louis Vuitton Multi Pochette Accessories –  LegitGrails

So, we're seeing more, I'd say, crossover to traditional uses, which is pretty interesting. So, some of the fund uses that were probably more prevalent when there was money flowing freely…

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Postscript


Fintech Blueprint 🤖🏦🧭
Fintech Blueprint 🤖🏦🧭
Finance is being pulled apart by the forces of frontier technology. From AI, to blockchain, crypto and DeFi, to mixed reality, chatbots, neobanks, and roboadvisors — the industry will never be the same. Here is the blueprint for navigating the shift.