Archax has recognized and set out to clear an obvious obstacle within the digital securities sector – Custodial solutions. With this in mind, they have established a working partnership with Unbound Tech; the latter of which is a cyber-security company, with a focus on digital assets.
This move is an important one for Archax, as they continue to work towards the imminent launch of their own digital assets exchange. By offering a custody solution to their clients, as well, their platform will immediately become much more flexible and appealing. It is important to note that, while Archax will be able to offer access to this custody solution, the service will remain disconnected from the actual platform. This separation will work to ensure even higher levels of security.
The flagship product from Unbound Tech would be their distributed ledger platform. This allows for data to be protected by breaking it up, and storing it across multiple parties. In doing so, the company is able to eliminate points of weakness, as complete sets of data cannot be accessed together unless allowed.
Graham Rodford, CEO of Archax, stated,
“As a digital asset exchange targeted at institutions, it was vital that we could offer the very best and most secure solution for storing clients’ wallets and keys. Unlike most crypto venues, our custody service is totally segregated from the Archax exchange, and this, coupled with the unrivalled capabilities of Unbound’s technology, means we can offer exactly what institutions need. We did an extensive evaluation of the custody partners that were suitable for us and Unbound met all our requirements and more.”
Yehuda Lindell, CEO of Unbound Tech, stated,
“Our Digital Asset Protection Platform provides an innovative approach to protecting digital assets by creating and using fragmented private keys without ever unifying them, delivering both security and speed for a seamless customer experience. This platform is being used by the world’s largest exchanges, protecting transactions in billions of dollars every day. Archax, with its institutional focus and plans to bridge the traditional and digital asset worlds, is an ideal partner to expand our market reach. We look forward to working with Archax whilst their product evolves.”
Based in London, England, Archax is a young company which was founded in 2018. The team behind the company is actively developing a digital exchange, set to be launched in late 2019. This exchange is expected to support digital securities, and will see its development aided through an upcoming STO hosted by Archax.
We recently had the pleasure of interviewing Graham Rodford, learning more about Archax in the process.
Unbound Tech is a New York based company, which was founded in 2014. Above all, Unbound Tech specializes in security based solutions for tech companies.
Unbound Tech has shown enough promise to receive the backing of multiple high-profile companies. This includes, not only Goldman Sachs, but also Citi Ventures.
Company operations are overseen by CEO, Yahuda Lindell.
In Other News
Custody solutions have been noted by many to be a weak link in the development of the digital securities sector. Industry participants have recognized this, with many seeking out ways to solve the problem. This partnership between Archax and Unbound Tech is the latest in a series of similar moves taken over the past few months.
SIX Acquires Stake in daura – SDX Exchange
A Strategic Advantage – SDX Exchange
Boerse Stuttgart Subsidiaries to Benefit from Investment by SBI Holdings
It is fair to say that SBI Holdings has decided to go all-in on blockchain based endeavours as of late. This has been made evident through various high profile investments. The most recent of which include Ripple, Securitize, and now Boerse Stuttgart – the latter of which we will discuss here today.
In an effort to usher in higher levels of adoption surrounding digital securities, SBI Holdings has invested in multiple branches of the Boerse Stuttgart group.
- Boerse Suttgart Digital Exchange
- Boerse Stuttgart Digital Ventures
Plans Moving Forward
In their announcement, it is clear that the rationality behind this new partnership is geared around global expansion. With SBI Holdings operating within Japan, and the various branches of the Boerse Group operation throughout Europe, the pair should find the partnership mutually beneficial.
Beyond simple expansion, the pair of companies closed out their announcement by elaborating on their plans. They stated,
“The SBI Group and the Boerse Stuttgart Group are partners in the digital asset business in Asia, including Japan, as well as in Europe. We will work together to build a global digital asset finance ecosystem utilizing blockchain.”
Upon announcing these investments, representatives from each, SBI Holdings and Boerse Stuttgart, took the time to comment. The following is what each had to say on the matter.
Yoshitaka Kitao, CEO of SBI Holdings, states,
“Due to the decentralized nature of digital assets, it is our top priority to find globally suitable partners to build our digital asset ecosystem. The SBI Group, with its trading platform for digital assets and other relevant companies, will make full use of the cooperation with the Börse Stuttgart Group to respond to the global customer interest in digital assets.”
Alexander Höptner, Chairman of the Management Board of Boerse Stuttgart GmbH, states,
“Asia and Europe are currently the fastest growing markets for digital assets. With the SBI Group, we have found an ideal partner to realize our vision of an efficient, global ecosystem along the value chain of digital assets. In addition to the exchange of knowledge and technology, the collaboration also covers the issuance, listing and trading of digital assets across borders, as well as brokerage services and building the first global bridge for custody.”
The Boerse Stuttgart Group consists of various branches such as Boerse Stuttgart Digital Exchange, and Boerse Stuttgart Digital Ventures. These two branches, in particular, have a focus on blockchain based endeavours, including the eventual creation of a secondary marketplace for digital securities.
An acting subsidiary of SBI Group, SBI Holdings, was launched in 1999. The company maintains headquarters within Tokyo, Japan, where they seek out, and establish, strategic partnerships with high potential companies.
CEO, Yoshitaka Kitao, currently oversees company operations.
In Other News
In recent months, each of the companies discussed here today have found themselves in our news feed. Whether launching a digital exchange, or making strategic investments, both companies have been quite active. The following articles are just a couple discussing recent moves by both.
DX.Exchange Goes Bankrupt – CX Technologies Ltd
Additionally, a host of suppliers have taken suit against the company. These suits run the gambit from unpaid bills to the alleged fraud. The well-known cybersecurity firm, White Hat Ltd is one of the company’s claiming losses due to DX.Exchange actions. Another lawsuit lists Bee2See Dotan B.S. Solutions. This is the firm that handled DX.Exchange targeted marketing. Even the company supplying the servers never got paid – Malam Team.
Writing on the Wall – DX.Exchange
Employees and suppliers knew to take action earlier in the month after the firm closed its doors unexpectedly. At the time, DX.Exchange owner Pinhas Patarkazishvili cited the rising costs and dwindled profits the exchange had left. He told employees that he was searching for a merger or acquisition and if that he was unsuccessful, the company would permanently cease operations.