INX, a securities token platform, has introduced a wallet facility consisting of compliance features for institutional needs, as per a May 3, 2023, announcement, as stated by Cointelegraph.
According to Cointelegraph, INX created the wallet through collaboration with BitGo, a wallet infrastructure provider. It’s believed that the wallet makes use of multi-party computation (MPC) technology.
Based on Cointelegraph’s information, INX securities tokens are present on Ethereum and comply with ERC-1404 token format, which was developed in 2018. Reportedly, the new wallet facility permits institutions to follow financial cybersecurity and custody standards during keeping INX securities tokens. Sources suggest that the wallet facility also contains provisions to ensure management of employee access privileges.
“Our wallets can connect to and interact seamlessly with [the INX platform] without compromising on security or reliability. This will unlock new possibilities for investors and serve as a gateway for institutional adoption of Web3,” Lisa Jowett, head of platform sales, BitGo, stated.
Moreover, Cointelegraph noted that on May 3, 2023, INX unveiled its first equity token using Greenbriar Capital, a public company. Douglas Borthwick, advisor, INX, has highlighted that “all assets will migrate to the blockchain.”
(With insights from Cointelegraph)