Prime Trust, a digital-asset custodian, will stop doing business in the U.S. state of Texas effective Jan. 31, according to a notice posted on its website.

The company provides custody and other services to key players in the crypto industry such as Swan, Abra and Okcoin, according to its website.

Prime Trust notified customers three days ago that it withdrew its Texas Money Transmitter License (MTL) application, rendering the firm ineligible to operate in the Lone Star State, although it intends to reapply.

“We continually renew applications, and this is a part of the process,” Michelle Marin, senior vice president of communications at Prime Trust, told CoinDesk. “We intend to swiftly reapply and resume business in Texas.”