Matrixport’s Cactus Custody Launches Institutional Custody Service for NFTs
- Leading virtual assets financial service provider Matrixport has announced the inauguration of Warm and Cold custody services for NFTs.
Leading virtual assets financial service provider Matrixport has announced the inauguration of Warm and Cold custody services for institutional NFTs. The firm revealed that the services will become available via its extending custody service, Cactus. With the new service, institutional and individual investors will trade NFTs seamlessly.
Reflecting on the innovation, the COO of Matrixport, Cynthia Wu described the development as an attempt by the firm to follow trends. Wu disclosed that investors are increasingly exploring every opportunity to ensure the safety of their virtual assets.
“Matrixport continues to evolve its offerings in line with market needs. As use cases for NFTs expand and mature, investors are seeking out best-in-class protection for these valuable digital assets against malicious actors. Cactus Custody™ is stepping up with the infrastructure and tools to provide our clients with peace of mind.” Wu stated
Matrixport and the Ballooning NFT Market
The Cactus Custody has advanced risk management features that aid investors to explore and whitelist dApp contracts. For safety purposes, the service only permits registered DeFi, GameFi, SocialFi, and NFT marketplaces to engage wallets within its ecosystem. With that, assets are safe and there is a low tendency for extortion, hacks, and other illicit activities.
Also, the NFT Warm and Cold storage feature offer investors a three-dimensional option of good accessibility, scalability, and security. Through Warm storage, investors can create numerous portfolios for effective asset management, and swift relations with different NFT marketplaces. It also provides a standard safe with passkeys for additional security.
The integration of the Cold storage solution further strengthens the safety assurances of the innovation. The Cold Storage feature uses a multi-sig means to store passkeys offline across 4 countries on 3 continents.
The increasing popularity of NFT compelled the Matrixport to launch the new feature in other to flow along with trends. Increasingly, NFT is building the popularity of being a versatile virtual asset with numerous features. It has proved its usefulness on different occasions, across different areas of human life.
Use Cases
NFTs can help store valuable information, keep good medical records, aid identification technology, and protect trademarks.
Likewise, Matrixport initiated Cactus Custody as a third-party institutional custody service for miners, investments, and firms under custody. The firm has incorporated the new NFT asset management feature into Cactus Custody for investors to explore.
Cactus Custody is directed at providing the virtual world with a safe, effective, and transparent custodian service. It’s embedded with advanced security options and other notable features that serve investors in the best interest. By providing services to loading mining firms, pools, and exchanges the platform currently secures close to $1 billion of virtual assets.
However, Matrixport is a force to reckon with in the industry, and it is popular for its effectiveness. The firm offers seamless trading of cryptocurrency for investors with the vision of staying ahead of trends.
The jurisdiction of Matrixport isn’t limited to NFTs and Crypto assets alone, the firm is also advancing into Web3. It provides startups in Web3 with numerous options to forge ahead in the industry.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
