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January 10, 2022

Release R 1.17.22 is available for preview in the Sandbox environment on January 10, 2022.

Release R 1.17.22 will be available in Production on January 17, 2022.

Liquidity

Scheduled settlement UI

Integrators using the scheduled settlement feature can now view their trade settlements, view outstanding settlements, and take appropriate action. For example, if a trade settlement fails because of a lack of cash or assets on the integrator side, the integrator can now view that particular trade settlement and top-off the settlement account with any required cash or assets.

Return a successful response as soon as a quote is executed and settle asynchronously

This performance update enables asynchronous settlement and affects non-expired quotes in pending status that are executed by calling POST v2/quotes/<quote-id>/execute.

A successful "2XX" response returns status of “executed_pending_settlement”, followed by settlement, and the quote moved into executed status.

December 20, 2021

Compliance

Auto-deny new accounts following a CIP check rejection

In order to reduce the time and effort to open an account, and to reduce human error and manual review, this feature auto-denies and closes an account if a CIP check decision is rejected.

For an account to be auto-denied and closed, an account must be:

  • status: pending

  • never opened before

  • zero balance

  • not an entity account (entity accounts have more than one contact)

The outcome of the auto-deny and closure feature is the same as the deny account option in Cloud Prime Trust.

Liquidity

Ability for a trade desk user to see its trade settlements

Previously, users with the trade_desks role could not view trade settlements.

This update adds the ability for a user from a trade desk to see its trade settlements using /v2/trade-settlements.

Payment rails

Webhook response for pre-created credit card contribution

This update to the credit card contribution flow introduces a webhook “updated” event for when a pre-created contribution completes and a funds transfer is created and successfully linked to a contribution.

Flow:

  1. Integrator calls POST /v2/contributions/token to create the 'pre-created' contribution

  2. Integrator uses the Credit Card widget to collect CVV and complete the contribution.

  3. The system links the funds transfer to the contribution.

  4. “Updated” webhook is sent out to the integrator.

Webhook update:

An "updated" webhook event is fired when a funds transfer is successfully linked to a contribution after a pre-created contribution was successfully completed.

December 6, 2021

Updates on the latest product releases from the Prime Trust team.

Compliance

KYC auto deny over sigma fraud risk > 0.99

Prime Trust now auto-denies CIP checks if the fraud risk > 0.99

KYC accept ITIN

Prime Trust now accepts and validates ITIN if entered as tax-id.

Deny-list error message update

Previously, when the deny-list feature blocked Account / Contact creation, the system sent an error message with text instructions to “contact your account manger”. This updated replaces the text of the message with, “User is ineligible for a Prime Trust account”.

Payment rails

Pre-contribution creation and completion with a token

This feature provides new endpoints for integrators to create a token linked to a “pre-created” token that can only be used to complete and process that pre-created contribution. The pre-created token reduces the risk of creating a contact that can then be used to create a contribution (through the Prime Trust credit card embeddable widget) for differing amount.

POST /v2/contributions/token

  • Uses the request payload as a contribution except with 3DS challenge attributes.

  • Can only be used for contributions of type “credit_card”

  • Creates the contribution record but does not process it

  • Returns the contribution details along with a token

Cancel a credit card pre-contribution

This feature provides av new endpoint for integrators to cancel a pre-created credit card contribution:

POST /v2/contributions/token/<token-hash>/cancel

  • Used if the Contribution is in Pending status and there is no funds transfer associated with it (meaning it hasn’t been fully processed)

  • Canceling prevents the token from working

If the contribution has been processed, the system returns a 403 response with the message, “Funds transfer has already been processed and cannot be cancelled.”

Hide form on CVV submit success page

This feature hides the form in the credit card embeddable widget before destroying the iframe in order to prevent your end users from re-submitting a CVV number more than once.

The system previously displayed the CVV again after the 3DS challenge completed.

Support of intermediary SWIFT code for international wires

This update enables Cloud Prime Trust users to enter either a SWIFT Code either or a routing number in the Intermediary SWIFT Code field when sending an outbound transaction in all currencies.

The system displays two radio button selections (one of the two is required):

  • Intermediary Swift Code - validate format of 11 alphanumeric digits

  • Intermediary Routing Number - validate format of 9 numeric digits

November 22, 2021

Updates on the latest product releases from the Prime Trust team.

Compliance

Enable disbursements for pending closures

This update to account freeze status behavior changes the behavior for pending closures so that customers can move money out of the account. Previously the system did not allow disbursements for pending closures.

November 2, 2021

Updates on the latest product releases from the Prime Trust team.

Compliance

Account freeze webhook

This update introduces new account freeze reason codes as well as instructions on how to unfreeze accounts. See How to handle account freezes. Old values will remain as-is in the system.

Example new webhook payload:

{
"id": "753d2fcb-8531-45ec-8ff4-da6b623e9aeb",
"account-id": "d96e9ab3-ac26-428e-a9cf-b93b326ceaf7",
"action": "update",
"data": {
"freeze_reason": "AF01: ACH Reversal",
"freeze_required_actions": [
"NF03: Please complete and sign due diligence questionnaire and submit required documentation. Contact your Account Manager.",
"NF06: Approve or deny wire recall request",
"NF02: Please provide proof of account ownership",
"NF07: Provide updated identity documentation",
"NF08: Please contact primetrust.inquiries@primetrust.com",
"NF05: Please contact billing@primetrust.com to settle outstanding invoices",
"NF04: Please contact Customer Support at support@primetrust.com or your Account Manager"
]
},
"resource-id": "d96e9ab3-ac26-428e-a9cf-b93b326ceaf7",
"resource-type": "accounts",
"account_id": "d96e9ab3-ac26-428e-a9cf-b93b326ceaf7",
"resource_id": "d96e9ab3-ac26-428e-a9cf-b93b326ceaf7",
"resource_type": "accounts"
}

Stop sending CIP checks over material changes if the previous CIP was denied or approved

This update to CIP checks processing stops sending CIP checks based on updates to contact information if the previous CIP check was denied or approved.

Payment rails

Use instant settlement account for credit card contributions

This update changes system behavior so that credit card contributions created using the credit card embeddable widget go to the credit card instant settlement account instead of the end user’s account. This change ensures that the integrator can then transfer the money to the end user’s account so that it is available for immediate use.

This change deprecates the use of sending the account-id in the POST v2/contributions/<hash> endpoint.

Please contact your account manager to configure and enable.

Ability to disable a credit card resource token

Integrators use a credit card resource token (CCR token) when creating a contribution. Now integrators can call the POST /v2/credit-card-resources/token/{hash}/disable endpoint to disable the CCR token and prevent the token from being used to create more contributions or links to a new card.

Remove customer disbursement authorization verification for ACH refunds

This updates the system so that customers do not have to authorize refunds via email authorization. Email authorizations are no longer a requirement to authorize the disbursement to be credited back.

Show first and last six characters when withdrawing to a previously created address in Cloud

Cloud users can now view the first six and last six characters of a previously created wallet address for confirmation purposes when performing a withdrawal. The user confirmation can be completed during the Review & Submit step, where the system previously less information.

For example:

My Address 1 (terra): terra1…jjh29e

October 18, 2021

Custody

Updated account statements

Updated account statements are now available, including a new CSV format. You can view and download statements in Cloud under the Statements tab.

Integrators can access new account statements using the following endpoints:

Use GET /v2/accounts/:account-id/account-statements?filter[month]=MM&filter[year]=YYYY&filter[format]=pdf to retrieve a PDF version of the account statement.

Use GET /v2/accounts/:account-id/account-statements?filter[month]=MM&filter[year]=YYYY&filter[format]=csv to retrieve a CSV version of the account statement.

Account statements

statements

October 4, 2021

Compliance

Automated KYC next steps request for additional documentation when documents are pending

The Prime Trust system now triggers KYC next steps to request additional KYC documentation (next step N10) every time the documentation is pending.

Automated KYC next steps

This improvement was introduced to increase automation and improve SLA conformance.

Payment Rails

Allow or prevent third-party wires for integrator accounts

This update now enables integrators to specify if third-party incoming wires are allowed or prevented for their accounts. Behavior is controlled by configuring a feature flag and is set to true by default.

September 20, 2021

Compliance

Automate clearing KYC next steps on approval

This update to KYC next steps automates clearing steps for CIP and Document Check approvals.

For CIP approvals, the system now automatically clears the following steps from the contact next steps:

  • N02
  • N04
  • N05
  • N07
  • N08
  • N09

For Document check approvals, the system now automatically clears the following steps from the contact next steps:

  • N10

Review and update resubmit decisions

This update pertains to the outcome of “Resubmit” for CIP check final decisions. Previously the “Resubmit” decision resulted in a CIP check auto-deny status. The system now sets the outcome of “Resubmit” to pending status. This update enables integrators to review and update “Resubmit” decisions.

Liquidity

New mock trade desk assets

This update adds the following coins to the mock trade-desk:

  • UST
  • USDC
  • USDT
  • TUSD

Payment rails

Add onContributionError event to credit card widget

This update adds an object event onContributionError that lets integrators track and respond to failed contributions.

September 7, 2021

Liquidity

Support for minimum unit trade sizes

The Liquidity API already supports the specification of minimum trade amounts for quotes by trade desks. This improvement enables the specification of minimum trade units for quotes.

resource: POST /v2/asset-trade-desks/{{asset-trade-id}}

new attribute: minimum-unit-count

Payment rails

Create a contribution using credit card iframe

This update supports recent enhancements to credit card transaction security with CVV data.

The update introduces a step for integrators using our credit card widget where contributions are now submitted using an iframe.

In this new flow, the integrator uses the card resource ID (associated with the credit card funds transfer method) to generate a new token using POST /v2/credit-card-resources/:id/token.

The token is used to launch the widget and the contribution amount is passed as a parameter. The widget displays a CVV form.

The flow is valid for new and existing cards.

Documentation available at: https://developers.primetrust.com/docs/purchase-protection-integration/#contribution--purchase-flow

August 23, 2021

Compliance

Socure live in sandbox

Support for integration with third-party automated identity check and fraud prevention partner Socure is live in the sandbox environment. A one-page transformation guide is available for integrators to adopt Socure to their existing flows.

Socure Transformation: https://developers.primetrust.com/docs/socure-transformation

IRA age restriction validation

This update changes the ending age range for IRA accounts from 69 to 99.

Disable deposits in accounts that have not completed a KYC check

This change to account opening behavior ensures that all new accounts are by default unable to accept deposits until passing all CIP, AML, and document checks. Upon passing, the accounts can accept deposits.

Input validation for contact fraud prevention attributes

The previous release introduced optional geolocation and IP address attributes that integrators can pass (for end users) to improve fraud prevention. This improvement provides the following validations for those attributes:

geolocation: validate for ISO 6709 format

ip-address: validate for IPv4 or IPv6 format

Custody

Referral code for new accounts

Prime Trust account creation now require referral codes from the Prime Trust Sales team. Contact sales@primetrust or your account manager to request a referral code for a new account.

Liquidity

Asset label available in trades resource

The asset-label attribute is now available (in addition to the existing asset-id) in the Trades resource so that integrators and trade desks can reconcile more efficiently and have more visibility into the types of trades they are accepting.

Settlement

Reverse internal transfers

Integrators can reverse internal transfers between two accounts under their organization using the following endpoint:

POST /v2/account-cash-transfers/{account-cash-transfer-id}/reverse

Integrators need to have “Full Control” or “Manage” permission over the two accounts involved in the Account Cash Transfer, and the feature needs to be enabled per organization.

July 26, 2021

Compliance

New fraud detection attributes added to contact resource

The following optional attributes have been added to the contacts resource:

  • ip-address - string (integrators can load the contact IP address in IPv4 decimal or IPv6 hexadecimal format)

  • geolocation - string (integrators can load the geolocation in ISO 6709 format)

Integrators can optionally provide these values. Upcoming Prime Trust compliance updates will use these values to assist with fraud detection.

Indemnity

Chargeback flow updates

Previously, both fraudulent and non-fraudulent chargeback funds were placed into “HOLD” status while the chargeback process completed. For fraudulent chargebacks (for the full transaction amount), the new flow is:

  1. The chargeback is placed into a “Claimed” status (which is final and cannot be disputed).

  2. The system reverses the transaction.

Payment rails

Enable organizations to specify push transfer method limits for account / contact pairs

By default, each account / contact pair can be assigned one push transfer method. In the case where a contact wants to use two existing push transfer methods, this change enables organizations to specify the number of push transfer methods per account / contact. Organizations must work with Prime Trust to enable the specified limits.

Disbursements whitelisting

This change enables whitelisting disbursements for funds and asset, enabling clients to have tighter control over disbursements. If whitelisting is flagged as required, funds and assets cannot be disbursed. The whitelisting policies are enabled by Prime Trust on behalf of the client.

July 12, 2021

Compliance

Automate next steps for missing documents

This feature enhances a previous feature release that runs a daily job to check for contacts with missing compliance documentation required for compliance checks. With this feature, the job now automatically assigns a standard next step to integrators and triggers a webhook.

“N10: Please provide a valid Government issued ID, Driver's License or Passport for validation, there may have been an error with the document provided please make sure that it is not expired, the image of the ID is clear, there is no glare or flash, and all four corners are visible”

June 28, 2021

Cloud Prime Trust

Disabled SVG uploads

This update prevents uploading images of file format .svg to Cloud Prime Trust in order to prevent potentially malicious files from entering the system.

Compliance

Prevent Customer Identification Program (CIP) checks on incomplete contacts

This update prevents CIP checks for incomplete contact records of individuals in the United States. If a contact was created without a document check, the system now pauses the CIP/AML check until the document check is submitted. Once the document check is submitted, the CIP call is submitted automatically.

This functionality is only applied if the "Account Aggregate Policies field Require Identity Documents on Auto Approve (Yes / No)" is set to “Yes”.

Custody

API integrator request account status and update

This update enables integrators to set an account status to “Pending Closure” in order to prevent users from contributing and disbursing from an account, regardless of the account balance. When the “Pending Closure” status is set, the system applies a Solid Freeze to the account (a disbursement and contribution freeze) but does not automatically close the account.

With this update, integrators can:

  • Add “Pending Closure” account status

  • Update status to “Pending Closure”

  • When updating status to “Pending Closure”, the system sets the Reason Code to “Pending Closure - Client Request”

  • Set the Frozen type to “Solid Freeze”

  • Update the Account History table to ensure the system can display the request (date, time, Integrator API display name, Freeze Type, Reason Code)

The following SubAccount types are excluded from being frozen:

  • Credit Card Instant Settlement

  • ACH Instant Settlement

  • ACH Reserve

  • Omnibus

  • Hybrid Omnibus

  • Reserve

  • Escrow

  • College Savings Trust

  • Direct Asset Protection Trust

Liquidity

Delayed settlement

Delayed settlement gives both sides of a trade enough time to contribute cash/assets before settlement occurs. Previously, the Liquidity API only allowed for instant settlement, which required both parties to have sufficient funds available at the time of the trade execution.

Delayed settlement is only enabled if an integrator enters into an agreement with a trade desk. Prime Trust provides a configuration flag that enables and disables the ability for integrators to specify a trade desk ID and when calling POST /v2/quotes. In order for POST /v2/quotes to be successful, the integrator must have the flag enabled for that trade desk.

The following account policies can be configured:

  • “settlement_delay_minutes”

  • “settlement_account”

  • “auto_settlement_days”

  • “auto_settlement_time”

  • “settlement_retry_delay_minutes”

  • “rejection_delay_minutes”

The following attributes have been added to the Quotes resource:

  • delayed_settlement

  • settled_at

  • rejected_at

  • integrator_settled

A Trade Settlement object represents one instance of settlement between a trade desk and an integrator and can be created manually or automatically.

Once a day at a time specified in the account policy, a scheduled job will automatically aggregate all “executed_pending_settlement” Quotes not already linked to a Trade Settlement object and link them to a newly created Trade Settlement object based on your “auto_settlement” account policy.

Use POST /v2/trade-settlements to manually create a settlement.

Depending on where the Trade Settlement is in its life cycle, the system sends different webhook notifications to integrators and trade desks.

External trade ID available in Quote resource

This update makes available the external trade ID in the Quote resource if a trade desk is calling the GET /v2/quotes endpoints. The id is only made available if the flag is enabled for an account.

This feature will allow trade desks to better reconcile trades in our system against trades in their system since they will be able to map the trade ID in their system

June 14, 2021

Compliance

Webhook for denied Customer Idenification Program (CIP) check

A new webhook is available for CIP checks for a CIP denied action. A webhook is now triggered with a denied status.

"type": "webhooks",
"id": "85f996c1-365f-40cb-bf36-ad83e189d519",
"attributes": {
"action": "Update",
"created-at": "2021-05-10T13:27:04Z",
"data": {
"changes": [
"status"
]
},
"failures": 0,
"last-request-at": null,
"last-response-code": null,
"resource-id": "f62f3f91-89e6-4522-be1e-d9b1db2fd4ec",
"resource-type": "cip_checks",

Know Your Customer (KYC) next steps added to Cloud Prime Trust

A Next Steps tab was added to the page Compliance → KYC to enable the display of KYC next steps. This feature provides integrators with standard next step responses, either through Cloud Prime Trust or through the webhook.

Liquidity

Increased trade desk timeout to 25 seconds

In certain situations, trade desks will not return a successful execution response until after 15 seconds, after which the system cancels execution. This results in trade discrepancies where the trade is executed on the trade desk's end but not within the Prime Trust system. In order to accommodate these longer response times, trade execution was changed to a long running request with timeout at 25 seconds.

Payment rails

Create reversals for card transactions for manual processing

This feature enables integrators using the /v2/refunds endpoint to create a reversal on a settled credit card funds transfer for a given account in Prime Trust.

Once called, a refund record is created (in “Pending” status) and the returned refund-id can be passed into the /v2/refunds/{REFUND-ID}/process endpoint, creating a new funds transfer using the original Funds Transfer Method and linked to the returned refund-id.

If the “Owner Verification On Cash Disbursements” policy is set to “Yes”, a disbursement authorization is sent to the owner.

This feature can be enabled or disabled per organization.

Update the beneficiary and sub-ledger title to use Prime Trust information in Push instructions for Push Transfer Methods

When creating a Push Transfer Method for an existing account with a contact linked to it, the system now includes the Prime Trust details in the credit-to and beneficiary-address attributes within the push-instructions. This improves the instructions where the system was previously displaying the contact name and address.

June 2, 2021

Liquidity

Quotes API resource no longer long-running

This update to the Quotes resource removes idempotent behavior from the /v2/quotes endpoint. This endpoint is incompatible with idempotent actions and will no longer accept long-running requests.

Following is a list of idempotent (long-running) API endpoints for reference:

POST /v2/contributions

POST /v2/account-cash-transfers

POST v2/internal-asset-transfers

POST /v2/watched_request_test

POST /v2/contributions/sandbox/timeout

POST /v2/account-cash-transfers/sandbox/timeout

POST v2/internal-asset-transfers/sandbox/timeout

POST /v2/nacha-batches

May 17, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

Custody

The Owner of an Account cannot be removed

This update applies to Prime Trust users with access to Accounts. When adding or editing other users on an Account, the user cannot remove the actual owner on the Account. Removing the owner results in compliance issues by removing the original Contact that successfully passed KYC validation.

Compliance

Double-check fails

This update applies to Know Your Customer (KYC) checks for Individuals in the United States. If a double-check fails, the system marks the contact as document denied with a note that the identity document verification failed.

April 28, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

New real-time compliance validation

A new Know Your Customer (KYC) validation process now provides integrators with meaningful rejection reasons in real-time for the following data:

  • Date of birth
  • Name
  • Tax ID
  • Street address 1 and 2

The Prime Trust compliance process will now also automatically reject newly created Contacts if required documents are not submitted within 24 hours of creation.

Password required to open a custodial account in Cloud Prime Trust

Custodial Account creation in Cloud Prime Trust now requires credentials. Please ask your Prime Trust account manager for the credentials required for account creation.

Deprecated

My Prime Trust sunset

April 30th marked the end of my.primetrust.com and the migration to cloud.primetrust.com. All integrator accounts and data from My Prime Trust are now available at https://cloud.primetrust.com.

April 14, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Debit Card Issuance - BETA

1.1 Webhook notifications for all objects related with Card Issuance

The system now sends out webhook notifications for the following Card Issuance objects:

  • Cardholders

  • Cards

  • Card Transactions

2. Deprecated

April 30th marks the end of my.primetrust.com and the migration to cloud.primetrust.com.

March 31, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1 Prime Issuance - BETA

1.1 Balance inquiry endpoint - BETA

Cardholders can request information related to their available spending power. This operation is called a Balance Inquiry.

Card balance is obtained through the following API request:

GET v2/cards/{card_id}/balance

Prime Trust returns the balance in the Prime Trust account currently linked to the card.

Deprecated

My Prime Trust

April 30th marks the end of my.primetrust.com and the migration to cloud.primetrust.com.

March 17, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1 FundAmerica

1.2 Update limits for crowdfunding

Based on recent SEC changes as of March 15th, 2021, the maximum raise limits for Reg CF, Reg A Tier 2, and Reg D changed:

  • Reg CF (Section 4(a)(6) ) - $1.07 M → $5 M

  • Reg D rule 504 - $5 M → $10 M

  • Reg A Tier 2 - $50 M → $75 M

FundAmerica system limits now allows raises up to the new limits for each of these three types of offerings.

1.3 Update test for income/worth for non-accredited investors

Also based on recent SEC changes as of March 15th, 2021, the test for income/worth for non-accredited investors changes: The greater of $2,200 or five percent of the greater of the investor’s annual income or net worth, if both an investor’s annual income and net worth are less than $107,000; or

Ten percent of the greater of his or her annual income or net worth, if either of annual income or net worth is equal to or more than $107,000.

1.4 Accredited investors qualifying options

Based on the SEC’s updated definition for an accredited investor, this change adds the following additional options to FundAmerica’s set of accredited investor qualifying options:

  • Certified individual: I am an individual with certifications or credentials issued by an accredited educational institution including, but not limited to, order holders in good standing of the FINRA Series 7, Series 65 and Series 82 licenses.

  • Knowledgeable employee: This is a private fund and I am a "knowledgeable employee" of this fund.

  • Spousal pool: I have pooled my finances with my "spousal equivalent" and qualify as an accredited investor.

  • Foreign entity: An entity, including Indian tribes, governmental bodies, funds, and entities organized under the laws of foreign countries, that own “investments,” as defined in Rule 2a51-1(b) under the Investment Company Act, in excess of $5 million and that was not formed for the specific purpose of investing in the securities offered.

  • Family office: A “family office” with at least $5 million in assets under management and their “family clients".

2 Prime Liquidity

2.1 Update error message for lack of disbursable funds

Previously, the system returned the following error message when there isn’t enough disbursable funds:

“cannot be greater than $X. The fee for this trade is $X(2.0%).”

The system now returns a more user-friendly error message:

"Quote amount including fees exceeds disbursable amount".

3 Prime Issuance - BETA

3.1 Ability to specify email templates per Org ID

This feature enables Organizations to customize the email templates that are sent to Cardholders when issuing a card. Backend work integrates our email service provider’s templating system. The templates can be specified in the account policy:

  • cardholder-verification-invite-template

  • cardholder-verification-code-template

4 Prime Rails

4.1 Update wire instruction presentation

This change applies to all Cloud Prime Trust users with Accounts in the system.

4.2 Create Push Transfer Method

This feature enables an API integrator to create a Push Transfer Method for an Account:Contact pair so that money can be deposited to that account by sending an ACH push transfer.

This feature is enabled per Organization and allows one method per Account ID / Contact ID pair. When generating a new Push Transfer Method or retrieving and existing one, the system returns the following values:

  • Account number

  • Bank Details (Routing Number, Name, Address, Phone number)

  • Supported Transfer types: ACH

  • Credit To

Please note that this feature is released but still in beta testing.

4.3 Process inbound ACH Contributions originated outside of Prime Trust

This feature enables our system to create a Contribution and Funds Transfer for accounts with a Push Transfer Method after receiving an ACH payment from our banking partner.

Transactions are available to view in Cloud Prime Trust under Transactions -> External Transfers and Transactions -> Transaction Ledger.

Please note that this feature is released but still in beta testing.

Deprecated

My Prime Trust

April 30th marks the end of my.primetrust.com and the migration to cloud.primetrust.com.

The following work has been completed:

  • Statements as generated on my.primetrust.com are now available on cloud.primetrust.com

  • All emails notices with links to my.primetrust will change to cloud.primetrust.com

  • Password reset link moved to cloud.primetrust.com

  • Login to cloud.primetrust.com from primetrust.com website

  • Banner on login page and main banner page of my.primetrust

In progress:

  • Pop up model for acknowledgment of my.primetrust change

March 3, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

Released

1.1 Cloud Prime Trust

1.1.1 Account statements available in Cloud Prime Trust

Cloud Prime Trust users can now download account statements. These statements were previously only found on my.primetrust, which has been deprecated. All historic statements are now available on Cloud Prime Trust.

1.2 Prime Issuance - BETA

1.2.1 Simulate physical card activation in sandbox environment

Prime Issuance integrators can use a sandbox code of “000000” to simulate a successful physical card activation response for the POST/v2/cards/{card-id}/activate-physical endpoint.

1.3 Prime Liquidity

1.3.1 Account id filter for GET quotes endpoint

This feature adds a new account id filter to the GET/v2/quotes endpoint so that integrators can query for quotes created under a specific account.

This addition solves a use case where previously in case of outages whenever there is a trade discrepancy, integrators would have to scan their entire history of trades to find trades that were lost due to discrepancies. Adding the account id filter now allows integrators to recover better by scanning users who are desynced.

1.3.2 Routing configuration

Prime Liquidity integrators can now route trades to their preferred trade desks (or even themselves) by specifying routing configurations.

Routing configurations specify how an RFQ should be routed among available Liquidity Providers. The Routing Configuration specifies “Default” and per asset configurations that override the default if specified. Configuration data include:

  • List of Trade Desks: which Trade Desks/Liquidity Providers are eligible for routing

  • Order/Priority: in which order should we try to get the Quote from the eligible Trade Desks

  • Weight: if two Trade Desks/Liquidity Providers have the same order/priority this will specify the distribution ratio among the Liquidity Providers with the same order.

Routing behavior

If a Trade Desk/Liquidity Provider is listed in the routing configuration (either default or per asset) but it does not support the asset or the trade amount, the routing algorithm skips it. Trade desks specified in an RFQ request override an account policy.

If two or more trade desks have the same order/priority, an arbitrary weight can be assigned to each desk to determine the distribution ratio. For example, if trade desk #1 has a weight of 10 and trade desk #2 has a weight of 990, then approximately 10 out of every 1000 RFQs will go to trade desk #1.

Deprecated

April 30th marks the end of my.primetrust.com and the migration to cloud.primetrust.com.

February 17, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Cloud Prime Trust

1.1 Filter dates before and between a given date

Cloud Prime Trust users can now filter date attributes to include all dates before and between a given date.

2 Prime Issuance - BETA

2.1 Change to card activation API endpoint - BETA

The Prime Issuance endpoint used by integrators to activate physical cards for cardholders has been updated.

POST/v2/cards/{card-id}/activate

has been changed to

POST/v2/cards/{card-id}/activate-physical

2.2 Additional integrator control over the display of card details - BETA

The following methods are available to integrators to show or hide card details:

  • showCardDetails()

  • hideCardDetails()

Prime Issuance integrators can also create their own toggle or UI element to show and hide card information by initializing the card display iframe without the default toggle.

2.3 Custom cardholder verification - BETA

Prime Issuance has added the ability for integrators to control the verification flow for cardholders instead of using the default Prime Issuance flow. Instead of having Prime Trust send to the cardholder a verification email with a link to the Prime Issuance verification flow, a flag can be set per integrator to disable the verification email from Prime Trust.

Integrators can use a cardholder-verification-hash with the following endpoints to handle verification:

  • Request phone verification - POST /v2/card-holder-verifications/{{cardholder-hash}}/request-phone-number-verification

  • Request email verification - POST /v2/card-holder-verifications/{{cardholder-hash}}/request-email-verification

  • Verify email - POST /v2/card-holder-verifications/{{cardholder-hash}}/verify-email

  • Verify phone - POST /v2/card-holder-verifications/{{cardholder-hash}}/verify-phone-number

February 03, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Issuance - BETA

1.1 Dynamic Card Design - BETA

This feature enables Prime Issuance users to dynamically display to their end-users a logo and card background using the Card iFrame.

January 20, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Issuance - BETA

1.1 Client-specified logo for issued cards - BETA

This feature enables Prime Issuance clients to specify primary and secondary logos to be displayed on physical cards issued to their card holders. Logos can currently be applied to one of seven available card designs.

1.2 Only issue cards to customers in the United States - BETA

Prime Issuance only supports debit cards issued to card holders residing in the United States.

2 Prime Rails

2.1 Perform Authorization reversals for card transactions when a capture fails

This feature improves the usability of card authorizations by automatically performing reversals in instances when authorization captures fail, such as when attempting card linkage or contributions. If the capture step fails, the authorization is reversed.

January 6, 2021

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Issuance - BETA

1.1 Improved presentation of PCI card data in Debit Card Widget - BETA

This feature adds the following UX improvements to the Debit Card Widget:

  • Renders a static image of the card background

  • Renders the logo

  • Adds a toggle button to show and hide the card information

1.2 Physical card activation - BETA

Prime Issuance integrators can now activate physical cards using a new Prime Issuance endpoint, POST /v2/cards/:id/activate. The endpoint requires passing anactivation-code in the request payload.

1.3 Flag to hide card at the completion of the card holder verification flow - BETA

This features a flag for integrators to hide the card when end-users complete their card holder verification as a part of the card issuance flow. If the flag is set, end-users receive the following message at the end of the verification flow: “Thank you for completing email and phone verification”.

The flag is set at the account policy using account_policy.debit_card_show_card_on_create.

1.4 Show card information at the completion of Two-Factor Authentication flow - BETA

This feature enables the display of card information after the end-user completes a 2FA (Two-Factor Authentication) Debit Card widget flow.

2 Prime Liquidity

2.1 Terra USD added as a supported asset to Prime Liquidity

Prime Liquidity Quotes API now supports trading in Terra USD. Activation of this feature is pending onboarding from the Liquidity Provider.

Trading pairs supported:

  • UST (Terra USD) / USD

Minimum Order Size supported:

  • 1 UST

Max Precision supported:

  • Six decimal places

Trades are instantly settled if:

  • The assets from the Liquidity Provider are in Prime Trust custody

  • The account initiating the quote has enough available funds

3 Prime Rails

3.1 Block outgoing wire transfers to blocked countries

Outgoing wire transfers are now blocked to the following countries:

  • Iran

  • Syria

  • Cuba

  • North Korea

  • Ukraine

December 16, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Custody

1.1 View custodial agreements in the Manage tab

In the Account Detail view in Cloud Prime Trust, the View Custodial Agreement section was moved to the Manage tab from the Review tab, so that non-admin users now have access to this view.

2. Prime Liquidity

2.1 Quote creation and execution through OWS Trading

OWS trading desk has been added as a new Liquidity Provider in support of Quotes API smart routing in Prime Liquidity.

Trading pairs supported:

  • BTC/USD

  • LTC/USD

  • ETH/USD

  • USDT/USD

Minimum Order Size supported:

  • $0.01

  • 0.01 USDT notional

  • 0.01 ETH

  • 0.01 LTC

  • 0.0005 BTC

Max Precision supported:

  • BTC: 8

  • ETH: 8

  • LTC: 8

  • USDT: 2

Trades are instantly settled if:

  • The assets from the Liquidity Provider are in Prime Trust custody

  • The account initiating the quote has enough available funds

2.2 Trade Desk hot / cold wallet ratio configuration per asset / Trade Desk pair

In order to support different hot versus cold wallet demand for each asset, Prime Liquidity now supports hot-to-cold ratio configuration for an Asset / Trade Desk pair.

Trade Desk configuration also allows a default configuration (based on the Trade Desk).

2.3 Improvements to Quote execution

Improves the overall robustness of quote execution.

3. Prime Rails

3.1 Chargebacks - confirmation dialog for reverse and send dispute

In order to reduce chargeback reversal mistakes, Cloud Prime Trust now displays a confirmation window for “Reverse Funds”, “Send Dispute” and “Submit Dispute” actions.

4. My Prime Trust

4.1 Update to open account link

The direct link to opening an account has been removed from my.primetrust.com landing page. The link remains functional; if you need to open an account, please use https://my.primetrust.com/open-an-account/. This change supports the eventual migration of functionality to Cloud Prime Trust.

Deprecated

N/A

December 4, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Liquidity

1.1 Support for multiple Trade Desks

Prime Liquidity Quotes now supports sourcing a quote from multiple Trade Desks. Prime Liquidity sources quotes from a pool of liquidity providers based on the following factors:

  • A minimum supported amount

  • A default Trade Desk per asset

1.2 Added quotes redundancy

Improvements to the Prime Liquidity Quotes API now ensure that for quotes that do not specify a Trade Desk, the API attempts to retrieve quotes from multiple sources if the default Trade Desk cannot return a quote.

2 Deprecated

n/a

November 19, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Settlement

1.1 Funds transfer name check

A new account policy was added that enables a check for credit card funds transfer methods, where the first and last name of a Card Holder must match the first and last name of the associated Contact.

2 Deprecated

n/a

November 05, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Custody

1.1 Account age verification

Prime Custody has introduced roles-based verification that prevents certain users who are under the age of 18 from creating Prime Trust accounts. Account owners and grantors must be over 18 years of age Beneficiary accounts may be under the age of 18

2. Prime Indemnity

1.2.1 UX improvements to 3DS challenges

Prime Indemnity has made improvements to the user experience for end users who use 3DS challenges to verify card transactions. Challenge overlays now expand to full screen and can be closed by the end user, returning the user to the card information form.

3. Prime Rails

3.1 Improvements to Card Widget user experience

End users of the Prime Rails Card Widget now see a progress indicator after submitting their card information.

2 Deprecated

n/a

October 22, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Custody

1.1 Support for new ERC20 tokens

Two ERC20 tokens can now be custodied:

  • DMM(mToken), listed as mUSDC

  • Audius platform token, AUDIO

2 Prime Indemnity

2.1 3DS integration

Prime Trust now supports fraud prevention during card linking and purchases by using 3DS challenges. An embeddable Purchase Protection script is available from Prime Trust for integrators to implement 3DS challenges using the Prime Trust Card Widget. 3DS integration is required for all customers with cryptocurrency transactions.

For integration details, see the integration documentation, Purchase Protection Integration for Card Processing.

3 Prime Liquidity

3.1 Koi Trading

Koi Trading has been integrated into PrimeLiquidity as an additional trade desk liquidity provider. Quotes API can now route quote creation through Koi Trading and execute quotes from Koi Trading.

  • Instant Settlement is available if the assets from the liquidity partners are custodied with Prime Trust and the integrator has an instant settlement account.

  • API supports minimum_trade_amount per trade desk

  • Koi Trading supports a minimum trade amount of 5 USD

  • Koi Trading supports a max precision of two decimal places for USD and eight decimal places for BTC

  • Koi Trading quote expires after 10 seconds

3.2 New assets supported

  • USDC
  • USDT
  • In summary, here are the supported trading pairs:
    • BTC / USD
    • USDC / USD
    • USDT / USD

4 Cloud Prime Trust

4.1 Sign up to Cloud Prime Trust

New users can now register for a Cloud Prime Trust account. This feature is part of an ongoing effort to achieve feature parity between cloud.primetrust.com and my.primetrust.com. The release of this feature now matches new user registration functionality at my.primetrust.com. Please note that Prime Trust is not deprecating my.primetrust.com nor encouraging users to migrate to cloud.primetrust.com yet.

Users can register at https://cloud-login.primetrust.com/sign-up. Registered users are immediately logged into the application and sent a welcome message.

October 7, 2020

Please contact your account manager for information about feature availability and enabling and testing new features.

1. Prime Rails

1.1 ACH volume limits per Organization

ACH volume limits reduce fraud and NSFs by limiting the dollar amount of ACH transfers per Organization. Reg E requires a 21 day notice to end-users before limits are “changed” (does not apply to first time establishment of limits) unless the change is made for the security of the account.

The feature enables the Funds Transfer API to:

  • Retrieve the historical activity for a given funds transfer method’s fingerprint for a given organization

  • Add the atts[:amount] to each of the periodic sums

  • Check to see if any of those sums exceed the limits defined in the account policies

If any limits are exceeded, response 422 is returned with an appropriate error code. If the funds transfer method is included in the explicit allowlist, checks will not be performed.

New error codes in Funds Transfer API:

  • ACH24HourLimitExceeded

  • ACH7DayLimitExceeded

  • ACH30DayLimitExceeded

New account policies include:

  • max_ach_contribution_amount_per_fingerprint_last_24_hours

  • max_ach_contribution_amount_per_fingerprint_last_7_days

  • max_ach_contribution_amount_per_fingerprint_last_30_days

The amounts are calculated per fingerprint per organization.

The POST /v2/contributions method will now return one of the three new error codes indicating overages.

1.2 Alphanumeric postal codes for wire details

This feature enables Cloud Prime Trust users to include alphanumeric postal codes for wire details beneficiary addresses when specifying a non-US country. Addresses for US beneficiaries still validate only numeric digits.

1.3 Check name for ACH using Plaid identity

Introduces a switch to enable name checking using Plaid identify with Funds Transfers API.

If turned on for an Organization, when adding a Plaid ACH funds transfer method, the check retrieves the account owner name using Plaid Identity and validates that the first name and last name match the name of the Contact.

September 22, 2020

1. Compliance

1.1 Improve KYC exception debugging capabilities for sandbox testers

Prime Trust has added the ability to create Sandbox Contacts that trigger CIP, AML and KYC exceptions based on the Contact’s name.

2. Prime Indemnity

2.1 Anti-fraud measures for credit card linking

When validating a credit card, the security code is validated during the linking process. Validations are limited to three attempts.

3. Prime Custody

3.1 Configurable limits on account opening

Prime Trust has implemented two configurable limits that the admin can impose on a specific API user:

  • User can only open X number of accounts every 24 hour period

  • User can only open X number of accounts

3.2 Place asset hot transfers under authorization policies

Prime Trust has introduced the following thresholds for hot transfers that trigger approvals:

  • Number of transactions over a given time frame

  • Amount of the transfer

3.3 Delegated user access to manage accounts

Prime Trust has established a parent / child user relationship, where a child user can inherit all of the access policies from the parent user.

4 Prime Settlement Network

4.1 Increase Trades capability across accounts in the network

Prime Trust now allows trades to be created if both accounts involved have AccountTransferAuthorizations pointing to each other.

4.2 UI support for initiating Trades

Prime Trust now support for the following flow in UI:

  • Select buy/sell order type, select cash/currency you are trading, select counter-party, select their cash/currency, type in the amount, create trade.

5. Prime Rails

5.1 Deposit and disburse Lumens and other instantly settled digital assets

Prime Rails has been updated to handle XLM and XRP by flagging them in the database, creating + settling on the first webhook received, and ignoring any subsequent webhooks to avoid accidental double settlement.

5.2 Fingerprinting of funds transfer methods

Prime Trust now supports symmetric encryption. This is a hashed value of uniquely identifiable information which should help integrators (and Prime Trust) to tell if the same ACH / credit card has been added multiple times in the system.

5.3 Automatically settle Signet contributions

Prime Trust now allow automatic settlement of Signet contributions. Users can submit a contribution by including a unique identifier included in a memo. Once submitted, the user’s account is credited with cash.

5.4 Wire contribution bulk processing

Prime Trust has supports a standard wire deposit report (download from bank) and the reading new wire transfers out of it.

5.5 Performance improvements for settling ACH transfers

Prime Trust has improved the ACH transfer process by breaking down the process into checkpoints. If one or more checkpoint fails, the rest of the process can still run and those checkpoints can be revisited.

5.6 Automate disbursements to customers using their own KYC program

Feature flag turned off/on for each account depending on whether or not they are using their own KYC program. If on, that means the user is using their own KYC program and disbursements can be completed without completed Prime Trust CIP or AML checks. This can only be utilized for customers/organizations that have their own documented KYC program. This flag also shows as a record that the customer was responsible for their own KYC.

6. Prime Liquidity

6.1 Mark up rates for Quotes

Added implicit_trade_fee to AccountPolicy model which will be assessed on all Quotes, and saved onto the created FacilitatedTrade under the column implicit_fee_amount.

When creating a Quote, the returned base_amount will be the sum of the FacilitatedTrade's amount and implicit_fee_amount, and the total_amount will be the sum of the amount, implicit_fee_amount, and fee_amount.

6.2 Quotes using hot wallet digital assets

Asset can be disbursed immediately from a hot wallet once the trade is conducted. When a user creates a quote, they will be able to specify if it should be a 'hot' quote or 'cold' with the 'hot' attribute. It will default to cold if not specified.

If it is a hot quote, it should do all the normal validations for quotes, but should validate against the user and/or trade desk's 'hot' balance. When the quote is executed, the additional validations should validate against the user/trade desk's hot balance and the asset should immediately go into the recipient's 'hot' balance. Additionally, a certain percentage of the trade desk's balance will be kept in 'hot' storage. This should automatically re-balance upon execution such that never less than 50% of a trade desk's balance is in hot storage and never more than 90%.

6.3 Improvements to Quotes API interface to allow customer more control over net quantities

Quotes can now be created specifying a “total amount”. This “total amount” will already take into consideration all the relevant fees.