Yeah places like Swan are really awesome and provide a great service, I think. The problem is there are two major reasons companies use services like Prime Trust.

1.) Resources. They built up tooling and provide good starting point if you have minimal resources or capital as a startup.

2.) This one may be a bigger reason. Offloading these things to a provider also offloads legal responsibility for your business. Prime Trust is responsible for storing and securing that data. Should a breach happen Swan is not on the hook for it.

You should do your DD on Prime Trust though. They nearly have a monopoly.

PROTOPHREAK

bitcoin

Prime Trust to cease all business in Texas effective 31 Jan 2023

random_

I admit I haven't done my homework on Prime Trust. I use Swan Bitcoin to dca, and I know Prime Trust is Swan's custodian until my deposits clear and I sweep my sats into cold storage.  I trust Swan as much as any exchange in the industry,  so I never questioned Prime Trust. Live and learn. 