Fortress Trust
defunctCompliant custody and payments infrastructure (in receivership)
About
Fortress Trust was a Nevada-chartered trust company building custody and payments infrastructure across fiat and crypto rails, offering virtual accounts, real-time payments, cross-border settlement and digital-asset custody. Founded by former Prime Trust CEO Scott Purcell, it served over 250,000 clients but was ordered to cease operations by Nevada regulators in October 2025 over insolvency, with a receiver appointed for parent Elemental Financial Technologies.
Stablecoins
Key products
- Founded
- 2021
- HQ
- Las Vegas, USA
- Stage
- Receivership
- Funding
- Raised from Ripple and others
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