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.
- How to Buy Bitcoin in the UK
- SEC Commissioner Hester Peirce Headlines All-Star Lineup at RIA Conference on Digital Assets
- Investing in Futu Holdings Limited (NASDAQ:FUTU) Stocks
- Digital Asset Service Providers Searching for Fresh Capital – Coinbase, Kraken, Anchorage
- Dollar Dominates Forex Market Amid Sell-Off