Archax Crypto Exchange Looks to Provide Crypto Custodial Services with Unbound Tech
The Archax went ahead to say they will be launching a new custodial service that is used for the digital assets. The crypto exchange is based in London, and the new service they are launching will be provided in partnership with the Unbound Tech.
More on the Unbound Tech
The Unbound Tech is a cryptograph firm that has been backed by several investors; this is the likes of Citi Ventures and the Goldman Sachs. The company is based in Israel.
“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,” said Archax CEO Graham Rodford.
The company claims that it can protect the sensitive data; they can do this by not storing the data in its complete form. The company goes on to state that the technology they have invested in does not need the use of a cold storage wallet for the use of digital assets.
The technology they use instead makes use of the fragmented private keys without having to unify them, all this to ensure that data is kept secure. Thus, you will be able to enjoy the best speeds offered in the market and the best security you can get. It is thus giving customers that needed seamless customer experience.
“Archax, with its institutional focus and plans to bridge the traditional and digital asset worlds, is an ideal partner to expand our market reach.”
The Unbound Tech Platform is Offering the Best Technology for Users
The Archax platform is yet to be launched, but it has been founded by several former executives who are from the hedge fund of the Omi Partners.
The company has also gone ahead to apply for the Financial Conduct Authority so that they could get recognized as the multi-lateral trading company together with a digital asset custodian.
It has been found that adequate custodial services have been lacking within the crypto market. It is together with the trading services. The exchanges would hold the funds, but in many situations have failed in ensuring they have kept these funds safe, even after they have claimed the assets are properly backed.