Qredo raised $ 11 million to deploy the crypto custody industry

If someone steals your private key or decrypts your cryptocurrency exchange password, your ownership takes a toast. Anthony Foy, CEO of London-based Qredo, said this widespread threat discourages institutional investors from investing large sums in cryptocurrencies. "Existing protection models are fundamentally disrupted. Organizations must choose between retail portfolio solutions, vulnerable central databases or cold storage devices, often shared by multiple employees. These solutions are not fit for their purpose, Foy told Decrypt. To do this, he spent $ 11 million collected in a seed. Lenders such as Celsius, Wintermute, Deribit, and a group of blockchain capital funds. He said more than half of the investment comes from companies that will use this technology. Firewalls serve to help institutional investors navigate major crypto transactions.MPC stands for multi-party computing.The principle is that those securing their money with MPC do not have to worry about private keys or passwords because MPC uses all Pe crypto Like n LastPass. With MPC decentralized and securing oversight, investors can trade crypto between different exchanges. complex crypto backend system. They can quickly complete more complex transactions by enabling them to react to changes in the market. "Pioneers investing in digital assets are constantly stuck with the need to protect their private keys, which prevents them from acting agile as individuals and seeking lucrative revenue opportunities at DeFi," Foy said. Fireblocks is already securing $ 30 billion with this technology. However, Foy is a

Join the Discussion

Back to top