Fusang Vault launches digital custody platform 02 April 2019Hong Kong Reporter: Jenna Lomax
Image: Shutterstock
Fusang Vault has launched a digital custody platform to enable Asian institutional investors to have access to the digital asset industry.
The Fusang Vault platform has been designed to minimise human error, relying on customised processes and automation.
Private keys are generated offline, split up using advanced cryptography, and then placed in various geographical locations.
Clients will undergo know-your-customer/anti-money laundering checks before any account is created and approved individuals are included in the system based on user roles, with access to wallets and transaction flows customised to each account.
It also allows clients to set policies in accordance with their internal signatory and authorisation processes.
Once the policies have been established on the platform, clients are able to make transactions within set parameters at any time of day.
Henry Chong, CEO of Fusang, said: “We approach digital asset custody from a financial and operational point of view, not just a technological one.”
He added: “We approached our solution by considering three main roles—the technology of our platform and its security, the need for our platform to be customised to our clients’ processes, and the role that Fusang will play to ensure we do our job as custodian as efficiently as possible.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 