PressJan 19, 2024
Chain Prime Product Update
Chain Prime, initially launched as a key component of Chain’s expansion into B2C blockchain solutions, has distinguished itself as a comprehensive institutional trading platform. Chain Prime primarily served accredited investors and institutions, providing advantages such as low slippage, near-zero fees, and substantial liquidity for large digital asset trades. This service played an integral part of Chain's vision to elevate the Web3 experience for businesses and investors alike.
Following a calculated change in strategy, Chain Prime plans to discontinue its brokerage service and transition to the development and launch of a dedicated ‘Trading-as-a-Service’ platform. This new direction will equip clients with a sophisticated trading engine and software stack, enabling them to establish their own end-to-end crypto trading brokerage integrations.
This pivot results from a shift in market dynamics, evolving regulatory environments, and a strategic realignment of Chain Prime. This reorientation aligns with our core mission statement of providing enterprise-level software solutions to businesses and developers, complementing our complete blockchain product stack.
Existing Chain Prime clients will receive email notifications to withdraw any remaining funds from the platform. This step is in preparation for the complete shutdown of the brokerage service, operated by Chain Europe UAB, scheduled for June 1, 2024.
Despite the closure of its brokerage arm, Chain.com remains focused on launching and supporting innovative software solutions for the blockchain industry. With products such as Chain Cloud, Sequence, Chain NFTs, and the newly revamped Chain Prime, we remain committed to delivering all-encompassing blockchain solutions for all.
For additional information about Chain's suite of products and our future endeavors, please visit Chain.com.
Chain is a blockchain infrastructure solution company that has been on a mission to enable a smarter and more connected economy since 2014. Chain offers builders in the Web3 industry services that help streamline the process of developing, and maintaining their blockchain infrastructures. Chain implements a SaaS model for its products that addresses the complexities of overall blockchain management. Chain offers a variety of products such as Ledger, Cloud, and NFTs as a service. Companies who choose to utilize Chain’s services will be able to free up resources for developers and cut costs so that clients can focus on their own products and customer experience. Learn more: https://chain.com.
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