Strategic partnership enables regulated institutional custody support for Cardano native assets in the Web3 space

SINGAPORE, Nov. 2, 2023 /PRNewswire/ -- EMURGO Group Pte. Ltd. ("EMURGO"), a global blockchain technology company that provides products and services to drive Web3 adoption of the Cardano blockchain, today announced its strategic partnership with Matrixport's qualified institutional custodian, Cactus Custody^TM.

Orchestrated by EMURGO, this partnership with Cactus Custody^TM aims to deliver regulated, institutional-grade custody solutions for Cardano native assets, serving a burgeoning community of Web3 developers, decentralized application (dApp) users, and enterprises.

Cactus Custody^TM, holding SOC-2 certification and a license from Hong Kong's Trust and Company Service Providers Unit, currently safeguards digital assets across more than 30 blockchains for over 300 institutional clients.

Ken Kodama, CEO of EMURGO, said, "The Cardano ecosystem is bigger than ever with millions of native tokens already created and more to come as our community continues to expand year-over-year. EMURGO is excited to have Cactus Custody join the Cardano ecosystem and provide an institutional-grade custodial solution for enterprises and other users to safeguard their Cardano native assets."

Wendy Jiang, Head of Cactus Custody^TM, said, "The partnership presents a tremendous opportunity to contribute to the vibrant Cardano ecosystem. Given the remarkable growth and sophistication of Cardano native assets, enterprises, developers, and users will require proven yet adaptable institutional-grade custody solutions that can scale with evolving needs. Our collaboration with EMURGO to provide fully compliant and robust custodial services reflects our ongoing commitment to invest and keep pace with the dynamic blockchain industry."

Cardano's architecture uniquely includes native assets or multi-asset support, enabling frictionless transactions without requiring smart contracts. This feature streamlines user fees and simplifies the development process for developers building on Cardano. According to intelligence platform Santiment, Cardano is at the forefront of network development activity, and as of October 2023, 8.93 million Cardano native tokens have been created. [1]

Cactus Custody^TM leverages advanced HSM cryptography to nullify key security vulnerabilities, fortifying its position as a trusted leader in institutional-grade custody solutions. By partnering with EMURGO, Cactus Custody^TM enriches its service offerings to include secure custody for Cardano's native assets, underscoring its commitment to innovation in the dynamic Web3 arena.

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About EMURGO

EMURGO is a global blockchain technology company and a founding entity of the Cardano blockchain. EMURGO provides products and services to drive the adoption of Cardano's Web3 ecosystem via education, investment, and infrastructure development.

Based in Singapore, EMURGO has a roster of global clients & partners. To connect and learn more, visit https://emurgo.io.

About Cactus Custody

Established in 2019, Cactus Custody^TM is the qualified institutional custodian brand of Matrixport, one of the world's leading digital asset financial services ecosystem.

The mission of Cactus Custody^TM is to provide the digital era with secure, transparent, and efficient institutional custodial services. Built with enterprise-grade crypto management features and value-added financial services backed by cutting-edge system security design and infrastructure that cater for a wide range of business scenarios, Cactus Custody^TM is safeguarding billions of dollars of digital assets for 300 institutional clients.

We provide services to the world's largest and most renowned mining companies, mining pools, cloud mining platforms, exchanges, funds and OTC dealers, supporting our clients to grow and scale in a secure way.

Besides the technology, Cactus Custody^TM is a qualified custodian and a Hong Kong Trust Company that meets the capital reserve requirement and acts within regulatory and AML guidelines.

For more information, please visit: https://www.mycactus.com/en