Matrixport, a digital asset-financial service ecosystem, has announced the launch of its warm- and cold-storage custody services for nonfungible tokens (NFTs) via its third-party institutional custody service Cactus Custody.
The latest NFT asset management offering lets institutions safely store and manage their NFT and crypto assets in one place.
NFTs have become increasingly popular, taking on a variety of formats such as artwork, trading cards, comics and games. NFT marketplaces have expanded from just a handful to hundreds of marketplaces on multiple blockchains, with the global value of NFTs sold reaching $20 billion in 2021 — 500-times the growth. The number of wallets trading NFTs also increased from half a million to about 28 million last year.
Cynthia Wu, chief operating officer of Matrixport, said:
“Matrixport continues to evolve its offerings in-line with market needs. As use cases for NFTs expand and mature, investors are seeking the best-in-class protection for these valuable digital assets against malicious actors. Cactus Custody is stepping up with the infrastructure and tools to provide our clients with peace of mind.”
Embedded with enhanced risk management features, Cactus Custody NFT asset management helps institutions customize user-access controls and whitelist decentralized application smart contracts. Only approved NFT marketplaces, decentralized finance, GameFi, social finance and Web3 protocols can interact with wallets on the platform, effectively reducing fraud, hacks or phishing attacks.
The NFT warm- and cold-storage solutions give users the optimum combination of security, scalability and accessibility. The warm-storage solution allows multiple business lines for asset segregation, seamless NFT-marketplace interactions with Cactus Custody DeFi Connector and proprietary bank-grade vaults to safeguard private keys. The cold-storage solution utilizes a multi-signature mechanism where private keys are stored offline in multiple bank-grade vaults on four countries and three continents.
Cactus Custody is a third-party institutional custody service provided by Matrixport for miners, funds, projects and corporations under custody. The NFT asset management service is now available on the Cactus Custody platform for users to enjoy comprehensive NFT functionality.
About Matrixport
Matrixport is a digital asset-financial service ecosystem making crypto easy for everyone. The company provides one-stop crypto financial services to generate long-term wealth from digital assets. Its services include Cactus Custody, spot over-the-counter trading and asset management supported by a suite of crypto-investment products in fixed income, structured products and lending.
Through its ventures unit, the company forges strategic collaborations with early-stage Web3 innovators, helping them build, grow and scale. Headquartered in Singapore, Matrixport serves institutions and retail customers in Asia and Europe and holds licenses in Hong Kong and Switzerland.
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Source: Igaming
