INX securities token platform has launched a new wallet for compliance.
the ERC-1404 token standard. The standard was created in 2018 to allow for compliance-friendly Ethereum tokens. These tokens can only be transferred between users that have passed identity verification with a participating institution.
The new wallet allows institutions to comply with cybersecurity and custody standards in the financial industry when holding INX securities tokens. No single person is given access to the private key that controls a given account. Instead, the key is split into three or more “shards” that have to be combined to sign transactions, a process calledAccording to the announcement, the wallet also contains features to make employee access privileges easier to manage.
Lisa Jowett, head of platform sales at BitGo, said she thinks these new features will help make institutional investors more comfortable using Web3 technology: Our wallets can connect to and interact seamlessly with INX. One without compromising on security or reliability. This will unlock new possibilities for investors and serve as a gateway for institutional adoption of Web3.
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