Cryptocurrency custody software is used to store and secure cryptocurrency assets. These tools rely on private key encryption to restrict access to digital currency assets and ensure their privacy while in long-term storage. Many cryptocurrency custody solutions also facilitate the buying and trading of cryptocurrencies for individuals or institutions. Furthermore, these tools can simplify and centralize cryptocurrency-related transactions and operational processes. Businesses use them to simplify management and storage of assets while ensuring their security and privacy.
Cryptocurrency custody solutions are related to cryptocurrency wallets in that they are used to store cryptocurrency, and cryptocurrency exchanges as they can be used to purchase and trade digital currency assets. However, custody solutions differ in that they centralize the transaction and storage processes while facilitating storage to an institutional-level scale.
To qualify for inclusion in the Cryptocurrency Custody category, a product must:
BitGo is the market leader in digital asset financial services, providing clients with security, compliance, custodial, and liquidity solutions. Launched in 2018, BitGo Trust Company is the first qualified custodian purpose-built for digital assets. BitGo Custody provides institutional investors with the strict policies, procedures, controls, and disclosures that are only guaranteed with a qualified custodian.
AmbiVault is hyper-secure storage that helps you to manage digital assets and protect them from any tampering or external theft. AmbiVault is based on the smart contracts in the Ethereum blockchain that defines the following multi-sig rules: Multiple parties must sign off in order to execute each operation. These parties can be anyone who you trust to act faithfully on your behalf. By requiring multiple signatures, AmbiVault provides your digital assets with the most advanced security possible. This also means that every AmbiVault operation is logged in the Ethereum blockchain and cannot be changed. USAGE - Hyper-secure digital asset storage. - A platform allowing to manage your digital assets. - ERC20 token issuance platform. FEATURES [Co-signing settings] Giving one person control over all of your assets is a big risk. AmbiVault allows you to set the number of users needed to execute network actions. You may alter co-signing rights for other users in the organization. You can also change the number of signatures needed to confirm new operations. [New token creation, re-creation, and revocation] AmbiVault allows you to create new ERC20 tokens. You may also change the total token count by creating or revoking new tokens. These operations will change how many of your tokens exist on the blockchain. [Managing token transaction fees] - Change the transaction fees depending on the Blockchain network load. This ensures that you process transactions at the correct time. - Choose who pays Blockchain transaction fees: token creator or end users. [Security features] - Two-factor authentication. - Driven by smart contracts in the Ethereum blockchain. - Private keys are stored in encrypted containers and cannot be decrypted on the server side.
Swiss Crypto Vault developed a proprietary hyper secure cold storage concept. It applies the highest standards of cryptographic, IT and physical security as well as multi-party segregation and multi-signing features. The implementation is regularly reviewed by an independent third party.