EMURGO Group, an international blockchain technology firm, has forged a calculated association with Cactus Custody, Matrixport’s institutional custodian. The EMURGO Group, on the other hand, provides products and services to increase Web3’s adoption of the Cardano blockchain.
EMURGO initiated the collaboration with Cactus Custody, which will result in the introduction of licensed, institutional-grade custody services for Cardano conventional assets to the benefit of the growing community of Web3 developers, users of decentralized applications (dApps), and other businesses.
Cactus Custody comes with a SOC-2 certificate as well as a license obtained from the Trust and Company Service Providers Unit in Hong Kong. The company is presently involved in protecting digital assets across over thirty blockchains, serving more than 300 institutional customers.
According to the CEO of EMURGO, Ken Kodama, the Cardano ecosystem is continuously increasing, with large volumes of conventional tokens being created, along with the overall growth of the community. In his opinion, the association with Cactus Custody will benefit businesses by protecting their Cardano conventional assets via the institutional level of custodial services.
According to Wendy Jiang, Head of Cactus Custody, the affiliation will strengthen the robust Cardano ecosystem. According to her, customers will demand institutional-level custody services that are interoperable and have the option of upgrading in order to keep up with ever-changing requirements.
Cardano’s framework contains conventional assets and multi-asset backing, which will provide the option of uninterrupted transactions without the need for smart contracts. This aspect helps to narrow down user fees and makes the development procedure more convenient for developers creating on Cardano. As per the information released by Santiment, which is an intelligence platform, Cardano is the leader in the network development space and, as of October 2023, has been instrumental in creating 8.93 million Cardano conventional tokens.
Cactus Custody, on the other hand, eliminates security flaws by utilizing cutting-edge HSM cryptography. Cardano’s traditional assets will have the option of adding safe custody thanks to the partnership with EMURGO.
EMURGO has its office in Singapore and is an international blockchain technology firm and creator of the Cardano blockchain. The company offers products and services to promote the acceptance of Cardano’s WEb3 ecosystem through learning, investing, and the development of its framework.
Cactus Custody was set up in 2019 and is the institutional custodian arm of Matrixport, which is one of the top digital asset financial services ecosystems globally. The focus of the company is on offering safe, clear, and effective institutional custodial solutions.