Binance – reportedly the largest crypto exchange with 120 million registered users and a portfolio of more than 350 unique crypto assets – has decided to become the key strategic investor in hardware wallet manufacturer, NGRAVE, by leading its series-A round.
What is NGRAVE?
Founded by Edouard Vanham, Ruben Merre, and Xavier Hendrickx in July 2018, NGRAVE rose to fame as the first crypto hardware wallet to have achieved the highest security-certified OS in the world (EAL7). The name of the wallet is Zero.
However, headquartered in Antwerp, Belgium, NGRAVE’s products & service portfolio expands beyond its crypto hardware wallet, as it serves as an end-to-end, 360-degree crypto-management solution. It is 100% offline, offering the highest possible protection from online hackers, free from the vulnerabilities that WiFi, Bluetooth, NFC, or USBs come along with.
Zero comes with an enhanced user experience and a patented offline interaction process for creating perfect keys.
Graphene is another flagship project of NGRAVE. It is the first encrypted and recoverable backup, resistant to fire, water, floods, corrosion, shocks, and other external intrusions. It is also easy to recover as all one needs is to restore the unique upper plate while the secret key remains well-protected.
Finally, NGRAVE offers Liquid, a mobile application that connects users to the blockchain in real time. Liquid helps receive and sign transactions instantly without requiring the user to expose their private keys. Transacting through NGRAVE is also easy, as one can buy and sell with intuitive QR codes.
What Does Binance Investing in NGRAVE Imply?
Investment from the largest cryptocurrency exchange into a notably emerging player in the field of security and secure keeping of assets shows how crucial the aspect of safety has become in the world of crypto.
Echoing the sentiment, Yi He, the co-founder of Binance and Head of Binance Labs, said, “security remains one of the biggest hurdles for crypto adoption,” and “through our investment in NGRAVE, we are looking to continue backing innovative startups that enhance user security.”
Ruben Merre, the co-founder and CEO of NGRAVE, reiterated the same and reinforced the company’s vision by saying that his brand takes a “real end-to-end view on how users can protect their crypto.”