Blockdaemon Wallet is the best of both worlds for institutions that want the control of self-custody but refuse to compromise on security, access to liquidity, and regulatory compliance.
April 18, 2023, Los Angeles, CA – Blockdaemon, the global leader in Web3 infrastructure, today announced the launch of its digital asset wallet, Blockdaemon Wallet. The latest addition to its product suite, Blockdaemon Wallet is built for institutional treasury, trading, and custodial services to enable banks, custodians, and exchanges to securely self-host digital assets in online wallets, optimizing liquidity and customer service while minimizing operational expenses.
Over the past year, Blockdaemon has seen an unprecedented surge in demand from businesses of all sizes, including large institutions, to custody their own digital assets, resulting in a 10x demand for on-prem MPC over the last six months. This is due to recent events in centralized finance (CeFi) resulting in the collapse of multiple large firms, which have drawn near universal attention to the risks that come with losing direct control of assets. As a result, individuals who own digital assets have fled centralized platforms to self-sovereign wallets and hardware devices. But until today, it’s been primarily individuals, not businesses or institutions, that were able to choose self-custody, since institutions face greater barriers than individuals due to higher regulatory compliance and security expectations. Blockdaemon wallet is built for institutions that refuse to compromise on control over their assets, without sacrificing compliance, security, or access to liquidity.
Blockdaemon Wallet is designed to address three critical requirements for institutions with heightened regulatory requirements:
- Providing the highest level of security against both external and internal threats
- Increasing control over transaction approvals; based on quorums, checklists, operational controls, and conditional controls,
- Self-hosted for full and exclusive control over the entire wallet ecosystem
“It’s become increasingly important for both individuals and institutions to have the ability to self custody their digital assets without counterparty risk,” said Konstantin Richter, CEO and Founder of Blockdaemon. “In the past, institutions were forced to compromise on control and security for their digital assets, but not anymore. The Blockdaemon Wallet gives institutions the power to self custody without compromising liquidity, security, or regulatory compliance.”
Blockdaemon Wallet joins a comprehensive offering of institutional blockchain solutions that operate on its integrated infrastructure, thereby enabling single-integration access to multiple solutions. Other Blockdaemon solutions include API access, liquid staking and more.
In 2022 Blockdaemon acquired Sepior which enabled it to develop and integrate proven MPC wallet technology into its existing, category-leading product suite. Blockdaemon is currently working to evolve the Blockdaemon Wallet to support multiple models, each optimized for different business applications and customer cohorts. Current users of Blockdaemon MPC technology include Atato, Cybavo a Circle Company, DuoKey, Liminal, Parfin, Partisia Blockchain, SBI Digital Asset Holdings and numerous other institutions.
For more information and an in-depth look at the features, advantages, and technical details of Blockdaemon Wallet, visit the Blockdaemon Wallet website.
About Blockdaemon
Blockdaemon powers the blockchain economy with its suite of industry-leading infrastructure solutions. We are a globally established, single integration partner for accessing premier blockchain networks. We provide integrated business solutions to exchanges, custodians, crypto platforms, financial institutions, and developers using our end-to-end suite of blockchain tools, including dedicated nodes, APIs, staking, liquid staking, MPC tech, and more.
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Blockdaemon
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