Inx, a securities token platform, has launched a new multi-party computation (MPC) wallet that was developed in partnership with BitGo. This wallet was created to not only comply with the financial industry’s cybersecurity and custodial standards but also to provide institutions a platform to invest in security tokens with greater confidence.

Securities tokens exist on the Ethereum network and adhere to the ERC-1404 token standard. What makes it compliant-friendly is that it requires all Ethereum tokens to pass identity verification with a participating institution before they can be transferred between users.

The wallet has additional features, such as the ability to assign different employees different roles like “viewers, spenders, approvers, and administrators” as well as separating customer assets into multiple wallets in order to provide clients more control over their individual accounts. Additionally, private keys are split into three or more “shards” instead of assigning a single person access to it, making it more secure.

Having the wallet in place is an important milestone for the company. It will enable institutions to invest more comfortably into the Web3 technology. Previously, in April, INX launched its first equity token from a public company, setting the precedent for assets to eventually migrate to the blockchain. Furthermore, INX is FDA-recognized and has obtained the designation of a broker-dealer in the United States, a testament to its compliance standards.

The launch of this wallet is another step forward for the security token industry as it encourages institutions to enter the space and make digitized asset investing easier and more accessible. With the plethora of features this wallet offers, strong security protocols, and compliance with US regulations, it heavily contributes towards making the industry more secure, efficient and trustworthy.



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