Safety and Freedom for Ethereum NFTs–Trustology Says Institutions Can Have Both
LONDON, March 9, 2021 /PRNewswire/ — Leading crypto custodian wallet provider, Trustology, who has recently been granted temporary FCA registration, has today announced that its TrustVault platform offers institutions the best way to buy, lend, hedge or store non-fungible tokens (NFTs) with no compromise to security, access or utility. As the first and only custodial wallet to have integrations with both MetaMask and WalletConnect in conjunction with their new automated transaction security controls such as co-signing, allow lists and DeFi firewall rules, they currently offer institutions unmatched DeFi functionality and connectivity to hold cryptoassets securely and handle any financial transaction.
Ethereum based NFTs are red hot at the moment. Viewed as digital collectables or title deeds, they can be locked away and stored, or, more interestingly, traded and leveraged with DeFi. NFTs have existed since 2017 but came into maturity in 2020 out of the belief that blockchain enables secure provenance and verification of authenticity and ownership of an item. More use cases are emerging including virtual real-estate, domain names, gaming and art all drawing the attention of major celebrities and brands, venture capital and crypto funds.
Institutions, however, still suffer from the absence of appropriate safety controls in DeFi to effectively and compliantly tap the burgeoning NFT digital marketplace, e.g. Openseas, Makersplace, etc. There is also still a lack of user-friendly custodial wallet services, required for regulatory compliance. Most DeFi wallets in existence today are non-custodial and intended for individual use only, unable to fulfill institutions’ need for both security and utility, leaving them faced with high friction and high risk from a fiduciary stance.
Enter Trustology. Their AML compliant platform makes it safer, faster and easier for institutions to both ‘hold’ NFT assets with an end-to-end hardware secure infrastructure and ‘work’ the tokens harder in DeFi with a secure and adaptable end-user experience enabled by its web, mobile and API interfaces.
From inception, Trustology Founder and CEO Alex Batlin recognised the vision and future of DeFi. “Combination of cryptoassets and modular DeFi is set to become the greatest global marketplace for integrated financial services. It’s open, standards-based and decentralised nature allows it to be safer, faster, easier, broader and cheaper, with deeper liquidity than anything before it. And in order to realise this vision, institutional investors, service providers, token issuers and corporates will depend on custodial wallet providers like Trustology to help them manage inherent risks and complexity of safeguarding and administering cryptoassets,” says Batlin.
Mia Mohamed, Trustology
+44 (0) 075 0010 5815
London-based Trustology is focussed on developing solutions to help institutional, corporate and private clients safeguard and administer cryptoassets in a safer, faster and easier way on-chain, on-DeFi, and on-exchange. Founded in 2017 by Alex Batlin and a team of experts in global banking and fintech, Trustology is backed by ConsenSys, a global blockchain company, and Two Sigma Ventures, an early-stage venture capital fund of Two Sigma. www.trustology.io
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