Archax, the forthcoming London-based, institutional, digital securities exchange announced it will be launching its own digital asset custody service in partnership with Unbound Tech, who are backed by forward-thinking strategic investors, including Goldman Sachs and Citi Ventures.
Unbound protects data, such as cryptographic keys, credentials or private information, by ensuring it never exist in complete form. Unbound’s Distributed Trust Platform applies revolutionary breakthroughs in Multi-Party Computation mathematics to split cryptographic keys into parts that are never again united, completely eliminating the single point of compromise for the most sensitive of assets. This revolutionary software-only solution negates the need for hardware wallets, whilst providing better security and flexibility.
Graham Rodford, CEO of Archax, comments: “As a digital asset exchange targeted at institutions, it was vital that we could offer the very best and most secure solution for storing clients’ wallets and keys. Unlike most crypto venues, our custody service is totally segregated from the Archax exchange, and this, coupled with the unrivalled capabilities of Unbound’s technology, means we can offer exactly what institutions need. We did an extensive evaluation of the custody partners that were suitable for us and Unbound met all our requirements and more.”
Yehuda Lindell, CEO of Unbound Tech, adds: “Our Digital Asset Protection Platform provides an innovative approach to protecting digital assets by creating and using fragmented private keys without ever unifying them, delivering both security and speed for a seamless customer experience. This platform is being used by the world’s largest exchanges, protecting transactions in billions of dollars every day. Archax, with its institutional focus and plans to bridge the traditional and digital asset worlds, is an ideal partner to expand our market reach. We look forward to working with Archax whilst their product evolves.”
Archax, which plans to launch later this year, is focused on providing a venue for institutions and professional investors to trade in all types of digital securities. Its application to operate digital asset custody service and a multilateral trading facility (MTF) in London is currently being considered by the FCA. Archax will also be doing its own STO later in the year where it will tokenise and offer for sale a portion of its own equity.