Digivault sees 30-fold increase in assets under custody in 2021
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Digivault sees 30-fold increase in assets under custody in 2021 07 December 2022UK Reporter: Jenna Lomax
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Digivault, the digital asset custody business within EQONEX Limited, achieved a 30-fold increase in assets under custody in 2021, reflecting the strong demand for accredited and regulated crypto-industry service providers.
The company securely stores the assets of customers including investors, family offices, fund managers and also law enforcement agencies and governments through its partnership with Asset Reality, the London based asset manager.
In December, it also added XRP to its assets under custody — a digital asset that is native to the XRP Ledger, an open source and decentralised blockchain technology.
Digivault developed the capabilities to support XRP in response to surging customer requests to provide custody for the digital asset. Digivault now supports more than 50 digital assets, including Bitcoin and Ethereum.
Robert Cooper, CEO of Digivault, says: “The value of digital assets along with the technology infrastructure that it supports can no longer be ignored, as reflected in the landmark increases in cryptocurrency participation we saw in 2021. But this increase in participation also put the spotlight on the risks of security breaches and hacks.”
He adds: “In the year ahead, we will maintain our focus on lifting the industry standards, driving greater awareness of ways to safely participate in the marketplace and protecting our customers by continuing to expand the list of assets we are able to securely store for them.”
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