ByteX unveils non-custodial setup feature for users to store their digital assets | The Financial Express

ByteX unveils non-custodial setup feature for users to store their digital assets

According to the platform, this feature is designed with the intention to give users more control over their digital assets and ensure that their private keys are always under their own control

ByteX unveils non-custodial setup feature for users to store their digital assets
Going by ByteX’s official website, it is a Web3.0-based licensed and regulated CeDeFi platform

ByteX, a zero-collateral cryptocurrency loan and exchange platform, has announced the launch of a non-custodial setup. The initiative aims to allow users to choose between an exchange wallet or Metamask wallet to store their digital assets, amidst the FTX collapse that wiped out approximately $100 billion from the cryptocurrency market capitalisation. 

According to the platform, this feature is designed with the intention to give users more control over their digital assets and ensure that their private keys are always under their own control. It is believed that users can now log in and trade from Metamask, a browser extension allowing users to store their private keys in a browser-based wallet and remain KYC/AML compliant. 

“I believe ByteX is committed to giving users a secure and user-friendly experience possible. This feature is just one of the many ways we aim to ensure our users have the best possible experience using our platform,” Robert Balazs, CEO, ByteX, said.

Going by ByteX’s official website, it is a Web3.0-based licensed and regulated CeDeFi platform, where users can trade, earn, and borrow cryptocurrency using both custodial and Metamask wallets. The company intends to cater to both institutions and individuals globally with earn, borrow and trade services using Web3.0 technology. 

Also Read: Blockchain-based Avalanche to support Alibaba Cloud’s Asian infrastructure services 

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First published on: 05-12-2022 at 15:10 IST