updated: May 21, 2020 15:00 BST
May 21, 2020 (Newswire.com) –
Trustology, a London-based institutional cryptoasset custody firm dedicated to enabling global crypto adoption, today announces that it will be partnering with Digital Asset Shared Ledger (DASL) — a platform developed by LAB577 to transform traditional financial instruments into digital assets. This partnership allows Trustology to join the Corda Network, making the company the first cryptoasset custody wallet provider on the network.
The finance-grade, enterprise-ready, regulatory friendly DASL facilitates the globally secure atomic value transfer of digital assets across the Corda Network — a peer-to-peer network of nodes, enabling interoperability across multiple systems, apps, and processes.
Using the open DASL solution on the Corda network, Trustology will be able to support fulfilling its mission to accelerate the crypto economy worldwide.
“LAB577 is delighted to partner with Trustology and bring them onto the Corda network using DASL. As a member of DASL, Trustology will be able to provide an even better service to their customers for key management and safe custody of digital assets,” said LAB577 CEO and former Head of Emerging Technology at RBS, Richard Crook.
Trustology has developed TrustVault — a fast, user-friendly, and highly secure insured custodial wallet service designed to address the security and ownership shortcomings of existing custody solutions as well as provide on-chain and on-exchange controls for managing and securing assets. TrustVault provides an equal level of speed, flexibility, and access demanded of traditional assets and account services within conventional finance.
Speaking on the collaboration, Trustology CEO Alex Batlin remarked: “We need to do our part in building an ecosystem that is safer, faster and easier for both individual and institutional crypto adoption. Partnering to support infrastructure designs such as the Corda Network and its token issuance is a step in that direction because we remove barriers to purchase and offer a frictionless, secure experience to foster trust.”
As the first cryptoasset custody wallet provider on the Corda network, Trustology will be working on delivering a host of new benefits to clients. These include extending wallet compatibility to Corda-based tokens and providing reliable key management and secure custody services to holders of Corda assets.
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LAB577 is a software company co-creating applications using emerging technology for clients in the financial services industry. Visit lab577.io/.
Trustology’s vision is to create the most compelling cryptoassets company of the 21st century. Our first focus has been securing and managing cryptoassets for private, corporate and institutional investors with our TrustVault platform technology and insured institutional custodial services. Visit trustology.io.