About Prime Trust
Technical briefing by Antonios Hadjigeorgalis and Omar Lopez
Overview of Briefing
Antonios Hadjigeorgalis Opens the demo by giving a brief introduction to Prime Trust
Antonios shows us a high level diagram of what the API offers. We see the two boxes, external world on the top and Prime Trust on the bottom, between them we see how they are linked together.
Assets can be moved in both directions depending on the trade that is being settled. The KYC, Settlement, Cash transfers, and Asset transfers are all done on internal APIs.
Today we will dive into the liquidity API.
We move into the demo app to see more on the liquidity API, where we see a simple buy-and-sell screen.
They provide a request for a quote system, which we see as a sandbox price. Directly from here, we can execute the trade. For this demo, we see a transaction where we buy $1000 BTC.
We move to postman to see the API calls that are behind making this app work. A warm value requires the Prime Trust operations team to review the transaction, where a hot value does it automatically after the owner confirms.
Antonios sends the API call and we see the response, which provides the ID. Once the quote is executed, we see the price, unit count, and the phrase “executed pending settlement,” which really means the trade was settled almost immediately.
We then move to see a hot transaction, which requires intervention from the Prime Trust team. This is normally seen in cases when stablecoins are purchased to be used in the owner’s ecosystem.
Instead of using a dollar amount, a specific quantity of an asset can also be purchased. The response looks the same to the previous example.
Besides instant settlement, a scheduled settlement is an option. A scheduled settlement can be configured in an organization and funds can be moved after the trade is executed.
Antonios closes out the technical briefing.
Additional Briefing Information
This briefing was held at V-Sum_Seventeen on November 15, 2022. V-Sum_Seventeen was made possible by Modern Treasury, IowaEDA, and Brale