io.finnet Launches Its Cutting-Edge Digital Asset Custody Solution for institutions: io.vault
London, May 17, 2024 (GLOBE NEWSWIRE) — io.finnet, the pioneering Tech company, is thrilled to announce the launch of io.vault, its groundbreaking digital asset self-custody solution for institutions. io.vault is already gaining traction, with io.finnet onboarding some of the most prominent institutional actors in the digital asset space including Ibanera and Evo Exchange among others.
io.vault empowers corporate clients to securely hold and transact digital assets, offering a scalable and secure solution designed for OTCs, DeFi platforms, cryptocurrency exchanges, active trading funds, and more. io.vault can be tailored to the specific needs of any company managing digital assets.
This cutting-edge technology is based on io.finnet’s proprietary Trustless Multi-Party-Computation (tMPC), which enhances security by distributing weighted signing authority among multiple participants. The solution, audited by Kudelski Security, provides both scalability and security for managing digital assets. Additionally, configurable signing requirements enable customization to fit specific organizational needs while maintaining user autonomy over assets.
“Scalability is a major hurdle for companies managing digital assets,” said Gregory Pepin, CEO of io.finnet. “Traditional solutions lack the security and seamless integration needed. io.vault solves this problem by empowering companies to securely manage their assets without relinquishing control.”
Unlike custodial services that hold private keys, io.vault ensures companies maintain direct control of their assets. It provides a fully customizable solution for transaction validation, giving companies the flexibility and security to scale their operations. This addresses the growing distrust in third-party custodians following high-profile failures like Celsius and BlockFi. Companies can now break free from the vulnerabilities and dependencies associated with outsourced custody, gaining complete control over their digital assets.
“io.vault is a game-changer,” continued Pepin. “It provides a scalable, secure, and trustworthy alternative to traditional custodian services, positioning io.finnet as a leader in addressing the evolving needs of the digital asset management landscape.”
With the launch of io.vault alongside existing offerings, io.finnet envisions itself as a trailblazer in paving the way to an open and decentralized financial network using revolutionary technologies. This innovative approach sets io.finnet apart in the rapidly evolving digital asset management space.
About io.finnet
At io.finnet we believe companies should seamlessly access and navigate the Digital Asset world, all while ensuring maximum security.
We are a technology company that provides secure access to Digital Asset Infrastructure for various industries, including finance. We specialize in enterprise blockchain, cryptographic security, multi-party computing (MPC), and lightning-fast secure APIs.
Our comprehensive product portfolio includes:
- io.network, a 24/7 instant settlement platform that leverages private blockchain technology;
- io.vault, a self-custody solution enabling businesses to manage their digital assets securely;
- io.flow, enabling enterprises to access a network of payment providers to process multi-currency transactions through local and cross border payment rails.
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Saeshanee Gough
