HomeNewsElevating Cardano Asset Security: EMURGO and Cactus Custody Unite for Advanced Custodial...

Elevating Cardano Asset Security: EMURGO and Cactus Custody Unite for Advanced Custodial Solutions

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  • EMURGO’s partnership with Cactus Custody aims to provide advanced custody solutions for Cardano assets, targeting Web3 developers, dApp users, and diverse enterprises.
  • Cactus Custody brings robust security to the collaboration, with SOC-2 certification, a license from Hong Kong’s Trust and Company Service Providers Unit, and a track record of protecting digital assets across more than 30 blockchains.

Empowering the Cardano Ecosystem

In an assertive move to strengthen the Cardano ecosystem, EMURGO, a leading entity in blockchain technology, has established a strategic partnership with Matrixport’s Cactus Custody, a prestigious institutional custodian. This collaboration is poised to deliver regulated custody support, tailor-made for Cardano’s native assets, within the flourishing Web3 space.

EMURGO’s commitment is clear: to cater to the expanding community of Web3 developers, dApp enthusiasts, and various businesses, providing them with top-notch custody solutions for Cardano’s native assets under a regulated framework.

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Advanced Custodial Solutions with Cactus Custody

Cactus Custody distinguishes itself in the realm of digital asset custody. With SOC-2 certification and a license from Hong Kong’s Trust and Company Service Providers Unit, it has a strong foothold in safeguarding digital assets, spanning more than 30 blockchains and serving over 300 institutional clients.

The partnership’s significance is underscored by Ken Kodama, CEO at EMURGO, as he highlights the rapid growth of the Cardano ecosystem. He expresses enthusiasm about integrating Cactus Custody™, foreseeing its crucial role in delivering superior custodial solutions. This, in turn, enables enterprises and users to enhance the protection of their Cardano native assets.

A Crucial Collaboration for Cardano’s Future

Wendy Jiang, who leads Cactus Custody, echoes these sentiments, emphasizing the vast potential of this partnership for the Cardano ecosystem, which is undergoing swift growth and transformation. The need for reliable and adaptable institutional-grade custody solutions is paramount. Wendy notes that their collaboration with EMURGO signifies their dedication to evolving and thriving in the ever-changing blockchain landscape.

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Cardano sets itself apart with its unique multi-asset support for native assets, facilitating smooth transactions without the need for smart contracts. This inherent feature simplifies developer interaction and substantially lowers user fees.

According to Santiment, a leading intelligence entity, by October 2023, there was a creation of a remarkable 8.93 million native Cardano tokens. This positions Cardano as a dominant player in network development initiatives.

Through this strategic alliance, Cactus Custody enhances its service offerings, providing unmatched safekeeping solutions for Cardano’s native assets and showcasing its commitment to constant innovation within the rapidly advancing Web3 domain.

Connect with Collin Brown on X (Twitter) for valuable market insights, frequent updates, and a touch of humor!
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Collin Brown
Collin Brown
Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.
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