Crypto Custody - Secure Storage of Digital Assets

The slogan 'Be your own Bank' also implies that you are responsible for managing your own keys and digital assets, which is not a simple issue. This can become a problem. You need to implement suitable backup solutions and security measures. Furthermore, the process remains critical for trading, as the assets are transferred to an exchange's wallet during the trading process, making it the Crypto Custodian. Therefore, a trustworthy exchange is essential.

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Institutional Crypto Custody: Highest Standards for Maximum Security

Institutional crypto custody solutions are characterized by the highest security standards and verified processes. Transparent procedures create trust among investors and regulators, as all steps are documented in a comprehensible manner. Regular, independent audits confirm compliance with relevant regulations and provide additional security. Detailed reporting processes make it possible to trace all transactions without gaps. Customers receive clear reports on the holdings and movements of their digital assets. This makes the custody of cryptocurrencies professional, transparent, and reliable.

Should the Crypto-Custody Solution Be Internal or External?

Several strategic considerations play a role in this. While internal custody provides you with maximum control, it requires comprehensive security measures and technical know-how. External custody solutions, on the other hand, relieve the company, as specialized providers ensure security and compliance.
Regulatory requirements and the desired flexibility should also be taken into account in your decision. As well as the risk of failure or attack on external service providers. Ultimately, the best solution depends on the individual needs and resources of the company. We are always available to advise you.

Cyber Security for the Metaverse, Web3, DeFi, Crypto and NFTs

Conceptualization of OpSec, Geo-Redundancy and Multisignatures

We create a custom Crypto-Custody solution for you with various types of wallets. This also includes sensitizing employees and minimizing counterparty risk while maintaining liquidity. OpSec, geo-redundancy concepts, and multisignatures must be tailored to the organization.

References

Certificates

Four-Eyes Principle

Multisignatures for Enhanced Cyber Security

Standard transactions in a blockchain network could be referred to as "single-signature transactions", as transfers only require a single signature - from the owner of the private key associated with the address. However, most networks support much more complex transactions that require the signature of several people before the assets can be transferred. These are often referred to as M-of-N transactions. The idea is that the asset is only "charged" when the critical mass of all parties has signed this transaction. This procedure is intended to bring additional cyber security within an institution or among stakeholders, as the loss of a private key cannot generate a valid transaction.

Illustration of crypto custody solutions

Self-Custody

In Self Custody, users manage their cryptocurrencies themselves and retain sole control over their private keys. They do not involve third parties such as an exchange or bank. This makes the owner independent at all times, able to freely dispose of their coins and not reliant on the security or availability of external service providers. The principle "Not your keys, not your coins" sums it up: Only those who possess the private keys are the true owners of the cryptocurrencies. Self Custody offers maximum control and protection against failures, hacks, or insolvencies of third parties. However, it also requires that the user take responsibility for security and backup themselves.