Vo1t, the famous cold storage custody provider, and IBM have closed a partnership to offer Vo1t clients secure data centers for holding and encrypting their private keys.
This new option is included in the IBM’s Hyper Project. It makes sure clients’ keys are kept safe regardless of what’s happening with the Vo1t data centers. Customers can install the data center on-premise or access it remotely from a computer used by another client. The data is kept encrypted in the enclave, no matter if it’s transited or in memory. This is what Vo1t’s general manager Sebastian Higgs had to say about the new option:
“Having this means our clients get to sign with their key in a separate transaction with IBM.”
Vo1t Has Been Offering Cold Storage Services Ever Since 2017
Vo1t is a London-based company with a name that reminds people of a bank vault. It provides, lending, trading, staking and custody products for not less, nor more than 35 digital assets. Ever since 2017, firms that are listed on the Financial Times Stock Exchange have been offered cold storage with Vo1t. The firm has also been offering the same services to financial institutions and trust companies from all over the world. It seems that withdrawals for assets in cold storage with Vo1t last only 45 minutes.
Banks and Large Firms More Interested in Offering Crypto Custody Services
Custody has only been offered by crypto exchanges and wallet providers for a while. However, large firms and banks are becoming more and more interested in offering this type of service to institutional investors that want to invest in cryptocurrency. This is what IBM Z as-a-Service director Rohit Badlaney had to say about IBM’s involvement in the digital custody space:
“We’ve been looking at the digital custody space and how we could make our servers and our cloud platform be a killer value proposition for this specific market.”