EMURGO and Matrixport's Cactus Custody Formulate Strategic Alliance for Enhanced Cardano Asset Custody

Published: November 01, 2023 at 11:38 pm Updated: November 01, 2023 at 11:38 pm

Edited and fact-checked:
November 01, 2023 at 11:38 pm

In Brief

EMURGO’s alliance with Cactus Custody™ offers custody solutions for Cardano assets to Web3 developers, dApp users, and businesses.

In a move that underlines its commitment to fortifying the Cardano ecosystem, EMURGO, the global blockchain technology powerhouse, has aligned forces with Matrixport’s Cactus Custody, a renowned qualified institutional custodian.

This collaboration is set to propel regulated custody support tailored for Cardano’s native assets within the burgeoning Web3 arena.

With this partnership, EMURGO emphasizes its aim. They want to cater to the growing Web3 developer community. DApp enthusiasts are also a target audience. Various enterprises are on their list too. They strive to offer top-tier custody solutions. These solutions are for Cardano’s indigenous assets and are regulated.

Leveraging its SOC-2 certification, Cactus Custody stands out. It also has a license from Hong Kong’s Trust and Company Service Providers Unit. The company has a strong record in guarding digital assets. It covers a range of more than 30 blockchains. Their clientele includes over 300 institutions.

On this partnership’s significance, Ken Kodama, the CEO at EMURGO, emphasized the escalating expansion of the Cardano ecosystem. He expressed his eagerness in welcoming Cactus Custody™ into this ecosystem, envisioning its pivotal role in delivering superior custodial solutions, allowing enterprises and other users to fortify the protection of their Cardano native assets.

About Cactus Custody

Echoing a similar sentiment, Wendy Jiang leads Cactus Custody. She spoke about the immense potential of this partnership for the Cardano ecosystem. The Cardano domain is experiencing rapid growth and change.

There is a pressing need for trustworthy and adaptable institutional-grade custody solutions. Wendy stressed that their partnership with EMURGO showcases their commitment. They aim to adapt and grow with the constantly changing blockchain world.

The Cardano blockchain stands out with its unique multi-asset support or native assets, which empowers seamless transactions sans the necessity for smart contracts. Such innate features simplify developer interaction and significantly reduce user fees.

According to data from the intelligence entity Santiment, they recorded the creation of a staggering 8.93 million native Cardano tokens by October 2023. This positions Cardano as a leader in the spectrum of network developmental endeavors.

By joining forces with EMURGO, Cactus Custody amplifies its arsenal of services to offer unparalleled safekeeping solutions for Cardano’s native assets. Such endeavors showcase its unwavering commitment to incessant innovation within the rapidly progressing Web3 sphere.

Disclaimer

Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

The Trust Project is a worldwide group of news organizations working to establish transparency standards.

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti