Diginex, a blockchain technology financial services company, today announced the launch of Digivault, which will offer institutional-grade cryptocurrency custody. The product will provide enterprise-grade security, operate to global standards and provide a secure means of processing and storing digital assets.
Digivault will implement a vaulted cold storage solution for a range of digital asset holdings including Bitcoin (BTC) and Ethereum (ETH) through its Kelvin offering.
“Digivault has built scalable infrastructure for digital assets that meet the expectations and standards of institutional players A lack of highly secure, institutional-grade custody solutions has prevented widespread adoption of this asset class by institutional players.”
– Richard Byworth, CEO of Diginex
Digivault’s Kelvin will offer secure, digital asset deep cold storage infrastructure inside the vaults of leading storage provider Malca-Amit. This cooperation enables Digivault to store client assets next to gold and silver in vaults that meet the highest grades of bank-entrusted vault classification and to store client assets in select locations in Europe and Asia.
“Our goal is to provide air-tight cold storage custody solutions for sophisticated investors with Kelvin. There is a gap in the market for a top-caliber custody cold storage solution that nullifies human risk, removes the ability for staff exploitation through criminal action such as kidnapping and removes all online electronic attack vectors, which we see as the key points of compromise in market offerings to date.”
– Robert Cooper, Chief Executive Officer of Digivault
Digivault’s completely air-gapped transaction process elevates the need for conventional USB devices, or any other electronic device, to safeguard assets from the threat of hacks, the elimination of WiFi/Bluetooth/NFC capabilities reinforces this securitization. The deep storage cold solution is based on well-established methods using Hardware Security Modules (HSMs) to safeguard digital assets by way of securing private keys using physical objects (key cards).
“In order to develop this infrastructure, we have leveraged the custody practices employed in the safekeeping of rare diamonds and ultra-precious metals. We have developed the Digivault infrastructure with a 360-degree view of security, this nexus of security protocols have been devised leveraging the expertise of cross-sector finance as well as digital asset and security experts.”
– James Byrne, Chief Technical Officer at Digivault