Join Our Mailing List
Saturday April 01, 2023
Bitcoin (BTC) $27,885.47   Ethereum (ETH) $1,774.26
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Vendor Technology

Formosa Financial releases alpha of crypto treasury management app

Published by CryptoNinjas.net
05/07/2019
Formosa Financial reveals sneak peek of cryptocurrency treasury management app

Months after teasing a sneak peek into the functions of their new treasury management application, Formosa Financial has now released an alpha version. The app is designed to offer financial services including risk management, asset custody and brokerage from one platform. According to the team, the purpose behind the app is to make life easier for blockchain innovators by allowing them to focus on their business while seamlessly managing their financial needs.

It is currently available on Bitcoin and Ethereum testnet blockchains.

Speed and Access to Fiat

Formosa advertises simplicity as the backbone of the app, which it says will significantly help digital asset owners. The release mentions that the app simplifies transactions and adds extra layers of reliability, speed and security. According to Formosa, it also solves a major issue that crypto businesses typically face, which is access to fiat. An excerpt from the announcements reads:

“Banks have long been wary of working with clients holding cryptoassets due to an uncertain regulatory environment and challenges in identifying the source of funds by working with industry leaders and implementing our own strong AML controls we are able to seamlessly provide access to fiat through industry-leading US banks with our integrated custody and cash settlement solutions.”

Eliminating Redundancy

The Formosa app also eliminates issues of opening multiple accounts, going through the hurdles of providing multiple documents for KYC in different institutions and holding multiple passwords. By providing a single account which provides all these services, Formosa believes it makes it easier for crypto businesses to focus on their core activities.

Formosa admits that the app is not yet perfect, stating that while users may experience bugs with the alpha release, the team will keep working on bug fixes and data corruption cases as other versions are pushed out. The release is also not yet available on mainnet so no real funds would be lost in cases of crashes, hacks or data corruption.

The treasury management company has also partnered with BitGo to incorporate an extra layer of security as well as proper wallet management and accounting database system which works for both centralized and decentralized applications. The application makes use of 2-Factor Authentication to make sure only registered users have access to withdraw funds. To make transactions more secure, users are required to update withdrawal addresses to a whitelist when they register, which reduces the chances of hacks or human error.

The platform seamlessly integrates asset custody, brokerage, and risk management in one easy-to-use package.

Those who are interested in trying this early version out, can submit this form .

14
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Formosa Financial merges with CEZEX & Katalyse to enhance digital asset ecosystem

05/27/2019
Formosa Financial merges with CEZEX & Katalyse to enhance digital asset ecosystem

Formosa Financial, a one-stop platform for managing digital assets, announced that it will merge its operations with CEZEX Digital Asset Exchange and Katalyse.io. Together, the three businesses will combine to form a comprehensive ecosystem enabling...

Read more

Formosa Financial reveals sneak peek of cryptocurrency treasury management app

02/02/2019
Formosa Financial reveals sneak peek of cryptocurrency treasury management app

Formosa Financial, creators of institutional grade digital asset management tools for blockchain, today has put out a sneak peek of how their treasury management app will function by putting together a brief demo. The Formosa...

Read more

Formosa Financial partners with Wanchain for cross-chain asset access

11/12/2018
Formosa Financial partners with Wanchain for cross-chain asset access

Formosa Financial, a one-stop treasury management platform for crypto-assets, recently announced a partnership with Wanchain, the distributed financial infrastructure powered by cross-blockchain smart contracts with privacy protection. This alliance with Wanchain will enable Formosa Financial...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022

HitBTC adds BitcoinCash futures before the hard fork

07/29/2017
$45M Gone in a Flash Loan Attack: How Scammers Exploited Vulnerabilities in Pancake Bunny's Smart Contract Code

$45M Gone in a Flash Loan Attack: How Scammers Exploited Vulnerabilities in Pancake Bunny’s Smart Contract Code

05/20/2021
Crypto trading platform Caspian raises $16 million in token pre-sale

Crypto trading platform Caspian raises $16 million in token pre-sale

09/17/2018
Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol

Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol

02/15/2023
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy