Trustology, a New Crypto Custody Provider for Institutions, Releases Hot Wallet ‘TrustVault’
Trustology, a company created by bankers who worked on companies such as BNY Mellon, UBS and the Bank of America, has recently released a new product: a custodial hot wallet that is catered to institutional investors.
This new wallet is called TrustVault and, at first, it may look a lot like a normal phone wallet. However, it has several security measures behind the scenes. The private keys of the customers will be held within special security models that are operated by the company. To access them, the person has to be verified by decentralized data centers.
According to Trustology CEO Alex Batlin, blockchain technology is important to create several new assets, so people need security to store them. This is what the new product is able to provide them with.
Batlin affirmed that having to deal with multiple interfaces can be a pain. There are popular tools such as MetaMask, but with so many assets appearing all the time, all of them have different interfaces and smart contracts, so having a wallet that can let you use these products with more ease is a good idea.
He also added that a lot of people avoid doing transactions with some altcoins because they don’t see them as secure. In several cases, people often decline to send large amounts as they are afraid that the transactions may be hacked.
The selling point of the product is that instead of using MetaMask and then several solutions, you can use just one: TrustVault. This way, the experience of the user will be considerably better.