Blockdaemon unveils a crypto wallet dedicated to financial institutions

The blockchain company Blockdaemon now offers a portfolio allowing the banks and others depositories to keep crypto-currencies in self-custody.

Late Tuesday, the U.S. blockchain infrastructure provider introduced Blockdaemon Walleta crypto wallet touted as a “revolutionary solution” that combines compliance, liquidity, and security, while eliminating self-guarding obstacles.

Upgrade your wallet security with Blockdaemon Institutional Wallet, leveraging Blockdaemon’s Advanced MPC technology. 🔐😈

Enjoy self-custody with highly secure key generation, storage, and cryptographic services – all designed for institutions. 🏦https://t.co/pyJaelyVlv pic.twitter.com/Sw5l2fwSbP

– Blockdaemon 😈 (@BlockdaemonHQ) April 18, 2023

The wallets in self-custody allow their owners to have control over their digital coins. The private keys are not held by third parties. This type of solution has gained popularity following the surprise bankruptcy of FTX last fall.

Blockdaemon Wallet offers a unique solution designed specifically for professional and institutional clients who require a self-hosted platform with state-of-the-art security features, accessibility and seamless integration, enabling a higher level of asset liquidity,” the announcement reads.

In terms of security, the portfolio developed by Blockdaemon, which supports BTC, ETH, SOL, MATIC and DOT, takes advantage of the MPC technology. It also offers the possibility to apply company and regulatory policies.

Last year, Blockdaemon raised $207 million in Series C funding, propelling its valuation to $3.25 billion. The blockchain specialist later acquired crypto startup Gem.

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