• INX has launched a wallet with compliance features for institutions, in partnership with wallet infrastructure provider BitGo.
• The wallet uses multi-party computation (MPC) technology to comply with cybersecurity and custody standards.
• It also contains features for managing employee access privileges and allowing clients to have more control over their individual accounts.
INX Launches Compliant Wallet for Institutions
INX, a securities token platform, has launched a new wallet in partnership with BitGo. The wallet is compliant with regulations and offers features that allow institutions to manage employee access privileges as well as give clients more control over their accounts.
Multi-Party Computation Technology
The wallet uses multi-party computation (MPC) technology which allows no single person to have access to the private key controlling an account. Instead, the key is split into shards that must be combined to sign transactions. This helps ensure security and reliability while still allowing users to interact seamlessly with the INX platform.
Features for Employee Access Privileges
The new wallet also contains features designed to make it easier for institutions to manage employee access privileges. Companies can task different employees with different roles such as “viewers, spenders, approvers and administrators” and segregate client assets by splitting up funds into multiple wallets and giving “approver” privileges to each individual client.
Benefits of Web3 Technology
Lisa Jowett from BitGo believes this new feature will help make institutional investors more comfortable using Web3 technology: “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.”
INX Reaches Milestone
On April 3, INX reached a major milestone when it launched its first equity token from a public company on its platform – furthering its mission of providing increased liquidity options through digital securities markets.