Onchain Custodian Collaborates with Wowoo Exchange for Digital Asset Storage Solution
- ONC partnered with Wowoo Exchange.
- The new custodial product will follow compliance protocols and maintain the security of assets.
Custodial services are a necessary part of the cryptocurrency industry because they allow consumers to safely and effectively store their crypto assets. These solutions can include hardware wallets or digital ones, though the security and compliance with the current regulations is the responsibility of the owner of the crypto wallet in these situations. In order to provide a solution for secure and compliant storage of crypto assets, Onchain Custodian (ONC) has announced that they will be working with Wowoo Exchange to provide such a service.
ONC is based in Singapore as a digital assets custody service provider. The Wowoo exchange doesn’t launch until next month, but their platform primarily focuses on offering high-quality security to customers, while adhering to the global compliance regulations of the industry.
CEO of Wowoo Exchange, Willie Chang, remarked that this partnership with Onchain Custodian follows along with their primary goal of developing an exchange for users to participate in the industry securely. Chang added that he and his team are looking forward to working with the provider for the management and protection of their customers' digital assets.
Adding more institutional investors to the ONC platform is a priority for the Asia Pacific region of the world. ONC already has the backing of Fosun, DHVC, and Sequoia Capital. This venture fund controls $1.4 trillion in stock market value, already holding a stake in Apple, Google, Oracle, and PayPal. Just last month, ONC on-boarded many major clients, like Ontology Foundation, Tembusu Partners, Timestamp Capital, and others.
The CEO for Onchain Custodian, Alexandre Kech, stated that it is an honor to be chosen by the Wowoo Exchange to be the third party custodian, adding that they look forward to the growth that both companies will have in the Asia Pacific “and beyond.” Considering the importance that security holds in the crypto world, Onchain Custodian may create a less stressful situation for institutional investors that simply want to work on their core business.