IOTA Foundation partners with Crypto Storage AG to offer the first institutional-grade IOTA token storage infrastructure solution.
Crypto Storage AG provides the first professional IOTA crypto token storage infrastructure solution worldwide. IOTA has set itself apart from blockchain developments with the creation of the Tangle. The Tangle is a permissionless, no-fee distributed ledger, designed as the basis of a global protocol for the Internet of Things (IoT) that does not rely on traditional blockchain technology. Industry partners are developing concepts with IOTA across automotive, mobility, eHealth, and smart energy sectors as well as social impact and government regulations, supply chain, and global trade activities. Crypto Storage AG, a subsidiary of Crypto Finance AG, brings a solution with a new professional level of security for IOTA’s industry partners and users.
January 9, 2019, Zurich, Switzerland. Crypto Storage AG, a subsidiary of Crypto Finance AG, is pleased to announce the result of its collaboration with the IOTA Foundation: the first multi-signature storage solution available for the storage of high volumes of IOTA tokens worldwide. This storage solution is designed to meet the needs of financial intermediaries as well as significant partners across a variety of industries working on concepts that use IOTA. The collaboration between the IOTA Foundation and Crypto Storage AG enables private and public investors as well as institutional investors and beneficiaries to manage access to their IOTA tokens securely. IOTA enables new business models for companies and organisations. Users of the Crypto Storage solution receive an additional level of security through separate infrastructures and definable approval processes.
“Crypto Storage AG is proud to support the IOTA platform with our top-tier infrastructure, as we see rising demand with our clients and IOTA’s industry partners to enable the IOTA token without compromising on security,” says Stijn Vander Straeten, CEO of Crypto Storage AG.
Started in 2015, IOTA sets itself apart from blockchain developments, with the goal of driving the future economy of interconnected and autonomous devices. Key elements in this distinctive approach include their distributed ledger called the Tangle, the open-source eco-system, and the vision of enabling the Internet of Things. IOTA is helping create concepts for machines to share data in automotive, mobility, eHealth, smart energy, humanitarian and government regulations, supply chain, and global trade industries. “Keeping data secure with infrastructure from Crypto Storage AG will contribute to the development of these concepts and the IOTA Foundation’s vision of supporting a machine-to-machine economy,” says IOTA co-founder David Sønstebø.
Crypto Storage AG adds IOTA to its crypto asset storage capabilities. This provides specific benefits for two key groups: Crypto Storage AG clients now may enable their business model with IOTA investments, and leading companies in industry working with IOTA can meet their institutional and compliance requirements.
IOTA is a not-for-profit foundation incorporated and registered in Germany. The IOTA Foundation’s mission is to support the development and standardisation of new distributed ledger technologies (DLT), including the IOTA Tangle. The IOTA Tangle is an innovative type of DLT specifically designed for the Internet of Things (IoT) environment. It is an open-source protocol facilitating novel machine-to-machine (M2M) interactions, including secure data transfer, no-fee, real-time micropayments, and the collection and dissemination of sensor-based and other data. www.iota.org
About Crypto Storage AG and the Crypto Finance Group
Crypto Storage AG, a subsidiary of Crypto Finance AG, enables financial intermediaries and corporates to store more than 60 different crypto assets securely with an institutional-grade infrastructure solution.
The Crypto Storage infrastructure solution raises market standards by introducing a new security paradigm, with two layers of dedicated and redundant hardware devices. This set-up allows for a dedicated, independent, and highly flexible multi-signature framework. All transactions can be reviewed and approved independently on dedicated tamper-proof hardware. The Hardware Security Module, the Crypto Storage tamper-proof signing device, and the tailored software solution are all developed by leading Swiss providers with vast experience in finance and IT security.
The Crypto Finance Group is building a bridge between the traditional financial world and the emerging crypto asset market with crypto asset management, trading, and storage infrastructure. Recognised in their first year of operations among Crypto Valley’s Top 50 blockchain companies, and among the Top 100 Swiss Start-ups, CEO Jan Brzezek and his experienced team founded the Crypto Finance Group with the conviction that all crypto market participants will benefit from professional, secure, and stable access to crypto asset markets. The group has offices in Zurich, Geneva as well as Zug, known as the Crypto Valley and home to possibly the world’s largest ecosystem of crypto companies and innovative organisations.
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