Two Sigma Ventures is leading an $8M seed investment in Trustology, a new platform for safeguarding digital assets. Their first product, TrustVault, strives to streamline this process and authenticate using biometrics, encrypt instructions using a user device’s secure enclave, sign transactions in an infrastructure where no human can access and no computer other than your device can message, and finally write transactions to the blockchain.
Two Sigma Ventures is very familiar with the power of electronic and systematic approaches to finance, so it recognized Trustology’s TrustVault solution as a potential game changer for any institution or enterprise that needs immediate access to their digital assets to manage investments, risk, or just plainly to transact real-time. TrustVault also hopes to have a strong and flexible authentication solution for institutions that require multiple sign-offs, supporting strong user authentication mechanisms for m-of-n transactions, customizable smart contract design, account transacting controls, just to name a few.
The company thinks that being a crypto-first, high-functioning team that is focused on security is just one aspect of what makes the Trustology team great. Equally important it believes, especially in the case of institutional-grade custody, is the expertise in regulatory, compliance and risk measures that can only come from deep industry experience.
Alex Batlin, Founder and CEO of Trustology brings the combination of these capabilities, having formerly led technical blockchain innovation at both UBS and BNY Mellon (one of the largest custodians in the world) while also serving as a founding member of the Enterprise Ethereum Alliance and R3 consortium.
Two Sigma Ventures will also be joining ConSensys in backing the Trustology team as they set out to realize a better way for enabling digital asset security.