Securities token platform launches MPC wallet for institutions


Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology.

INX securities tokens exist on the Ethereum network and follow the ERC-1404 token standard. The standard was created in 2018 to allow for compliance-friendly Ethereum tokens. These tokens can only be transferred between users that have passed identity verification with a participating institution.

How To Get Free Crypto  

The new wallet allows institutions to comply with cybersecurity and custody standards in the financial industry when holding INX securities tokens. No single person is given access to the private key that controls a given account. Instead, the key is split into three or more “shards” that have to be combined to sign transactions, a process called multi-party computation (MPC).

According to the announcement, the wallet also contains features to make employee access privileges easier to manage. Companies can task different employees with different roles, such as “viewers, spenders, approvers and administrators.” They can also segregate clients’ assets by splitting up funds into multiple wallets and giving “approver” privileges to each individual client. This allows institutions to give their clients more control over their individual accounts, the announcement said.

Lisa Jowett, head of platform sales at BitGo, said she thinks these new features will help make institutional investors more comfortable using Web3 technology:

Our wallets can connect to and interact seamlessly with INX. One without compromising on security or reliability. This will unlock new possibilities for investors and serve as a gateway for institutional adoption of Web3.

INX reached a major milestone on April 3 when it launched its first equity token from a public company, Greenbriar Capital (GEBRF). Its chief business officer, Douglas Borthwick, has argued that eventually “all assets will migrate to the blockchain.”

Coinbase Banner  

The company is registered with the Securities and Exchange Commission as a broker-dealer within the United States. Some industry experts have argued that the U.S. doesn’t have clear enough crypto regulations to allow most crypto exchanges to gain this designation.

Go to Source
Author: Tom Blackstone

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.