Symvan Capital invests in Custodiex - the world's most secure digital asset custodian
Global finance has been moving towards digitisation for many years, but the next step towards digital assets involves many rewards and substantive risks.
Many still associate digital assets with Bitcoin and the like, but the breakthrough for this new asset class came in the form of J.P. Morgan’s February 2019 announcement, whereby they became the first US bank to create and successfully test a digital coin rep
resenting a fiat currency. The JPM Coin is based on blockchain technology enabling the instantaneous transfer of payments between institutional clients.
This is great news for proponents of tokenisation but substantive security questions remain, not least the issue that over 20% of digital assets are stolen with little or no chance of ‘recovery’ in most cases.
Enter Custodiex, who have developed and pioneered a digital asset storage solution that is completely resistant to cyber-attacks.
Martin Gymer, CEO of Custodiex notes:
"Our solution allows for instantaneous transfer of digital assets in and out of our digital vault while maintaining a high level of security. Although some of our competitors offer similar custodian services, the combination of speed, security and insurance up to $500 million is not available from other participants in the existing market. This puts Custodiex in a strong position to gain market share while the digital asset market matures."
Symvan have just completed the initial tranche of their investment which could reach a total of £1 million invested this year. Symvan’s Kealan Doyle notes:
“Blockchain or distributed ledger technology (DLT) will allow any asset - including property, art, insurance, currencies, commodities, films, songs - to be transformed into a digital asset that can be instantly distributed globally in seconds, with all transactions being recorded and verified by a community, or consensus.
This is a new, token-based system and digital assets may soon become recognised as an inevitable “store of value”, tradable on global exchanges and accessible to a broad swathe of individuals and institutions across the globe. And just as with stocks, bonds, or commodities, investors will want to keep these assets safe from theft or loss."