The partnership established between EMURGO and Matrixport's Cactus Custody marks a notable step toward enhancing the security of Cardano assets.
In Brief
The collaboration between EMURGO and Cactus Custody™ brings forth key custody solutions tailored for those engaged with Cardano's ecosystem, including Web3 developers and businesses.
In this forward-thinking initiative, EMURGO signals its dedication to enhancing the ecosystem, as they collaborate with Cactus Custody, a recognized expert in institutional asset protection. Cardano ecosystem This partnership is set to offer specialized custody support for Cardano’s unique assets, contributing to the expanding Web3 landscape. Matrixport’s Cactus Custody With this strategic alliance, EMURGO aims to respond to the increasing demands from the Web3 developer scene and dApp aficionados, encompassing a wide array of enterprises. Their goal is to provide top-notch custodial solutions that are regulated and secure for Cardano's assets.
Cactus Custody distinguishes itself by having SOC-2 certification and holding a license from Hong Kong’s Trust and Company Service Providers Unit. Their proven expertise in safeguarding digital assets spans across more than 30 different blockchains, serving an impressive roster of over 300 institutions.
Ken Kodama, the CEO of EMURGO, highlighted the crucial growth of the Cardano ecosystem during discussions about this partnership. He expressed excitement about Cactus Custody’s integration, foreseeing its important contribution to enhancing custodial solutions and ensuring the protection of Cardano’s assets for enterprises and individual users.
Wendy Jiang, leading Cactus Custody, reiterated the transformative potential that this partnership holds for the Cardano ecosystem, which is now undergoing significant expansion and evolution.
As the Cardano platform rapidly evolves, there's a substantial demand for reliable, flexible custody solutions of institutional quality. Wendy emphasized that their collaboration with EMURGO reflects their dedication to adapting and progressing within the dynamic blockchain landscape.
About Cactus Custody
Cardano sets itself apart with its innovative support for multi-assets or native tokens, facilitating straightforward transactions that eliminate the need for smart contracts. This inherent capability enhances the interaction for developers while significantly lowering transaction costs for users.
Data shared by Santiment indicates that an astounding 8.93 million native Cardano tokens were generated by October 2023, placing Cardano in a leading position within the domain of network development projects.
By collaborating with EMURGO, Cactus Custody elevates its service offerings to provide unparalleled asset security solutions specifically for Cardano’s native tokens, showcasing an unwavering commitment to ongoing innovation in the fast-evolving Web3 environment.
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Nik, a seasoned analyst and writer at Metaverse Post, focuses on delivering insightful analysis in the rapidly evolving tech arena, with a special interest in AI/ML, XR, VR, on-chain analytics, and blockchain innovations. His writings aim to engage an assorted audience, keeping them informed and ahead in the technology landscape. With a Master’s degree in Economics and Management, Nik possesses a nuanced understanding of how business intersects with emerging technologies.
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