Matrixport’s Cactus Custody™ Launches Institutional Custody Service for Non-Fungible Tokens (NFTs)

The new NFT asset management offer optimizes across customer needs for security, scalability, and accessibility

SINGAPORE, June 27, 2022 /PRNewswire/ — Matrixport, one of the world’s largest digital asset financial services ecosystems, today announced the launch of hot and cold custodial services for non-fungible tokens (NFTs) through its third-party institutional custodian, Cactus Custody™. This latest NFT asset management offering provides institutions with the ability to securely store and manage their NFT and crypto assets in one place.

NFTs have become increasingly popular, taking on a variety of formats, including art, trading cards, comics, and games. NFT marketplaces have grown from a handful to hundreds of marketplaces across multiple blockchains, with the global value of NFTs sold increasing 500x to reach $20 billion in 2021. The number of wallets trading NFTs also grew from half a million to around 28 million last year.

Cynthia WuCOO, said Matrixport“Matrixport continues to evolve its offerings based on market needs. As NFT use cases grow and mature, investors seek best-in-class protection for these valuable digital assets from malicious actors. Cactus Custody™ steps up with the infrastructure and tools to provide our customers with peace of mind.”

Integrated with enhanced risk management features, the Cactus Custody™ NFT asset management offering allows institutions to customize user access controls and whitelist decentralized application (dApp) smart contracts. Only approved NFT marketplaces, DeFi, GameFi, SocialFi and Web3 protocols will be allowed to interact with wallets on the platform. This effectively reduces the susceptibility of wallets to potential fraud, hacks or phishing attacks.

NFT Warm and Cold storage solutions aim to provide users with the optimal combination of security, scalability and accessibility. Hot storage solution enables creation of multiple lines of business for asset segregation, seamless interactions with various NFT marketplaces via Cactus Custody™ Challenge Connector, and the availability of bank-grade proprietary safes to protect private keys. As an added layer of security, the cold storage solution uses a multi-sig mechanism where private keys are stored offline in multiple bank-grade vaults located in 4 countries on 3 continents.

Cactus Custody™ is the third-party institutional custody service provided by Matrixport for miners, funds, projects and companies in custody. The NFT asset management service is now available on the Cactus Custody™ platform for users to enjoy the full functionality of NFTs.

About Matrixport

Matrixport is one of the largest and most trusted digital asset financial services ecosystems in the world. With its mission to make crypto easy for everyone, the company provides one-stop crypto financial services to meet emerging needs for long-term wealth generation from digital assets. Its services include Cactus Custody™, spot OTC and asset management backed by a rich suite of market-leading crypto investment products, such as fixed income, structured products and loans. Through its venture capital unit, the company also forges strategic collaborations with early-stage Web3 innovators, helping them grow, grow and scale. Based at SingaporeMatrixport serves both institutional and retail customers across Asia and Europe. The company holds licenses in hong kong and Swiss. For more information, visit www.matrixport.com.

Twitter: @realMatrixport

LinkedIn: @Matrixport

About Cactus Custody

Cactus Custody’s mission is to provide secure, transparent and efficient institutional custodial services in the digital age. Enabled by state-of-the-art system security design and infrastructure, combined with comprehensive enterprise-grade financial management features that address broad business scenarios, Cactus Custody continuously protects a billion dollars of digital assets.

We provide services to some of the world’s largest and most renowned mining companies, mining pools, cloud mining platforms, exchanges, funds and OTC dealers, helping our clients grow and to evolve in a secure manner. Cactus Custody currently supports 70 major digital assets and will support more assets in the future. To learn more about our solutions, visit https://www.mycactus.com/en.

Twitter: @CactusCustody

LinkedIn: Cacti Guard

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