io.finnet launches io.vault, a solution for digital assets

Tech company io.finnet has launched io.vault, a digital asset self-custody solution designed specifically for institutional clients. Key players in the digital asset field such as Ibanera and Evo Exchange have already been onboarded by io.finnet, signalling a promising start for the newly launched solution, according to a statement from the company.

Crafted to meet the unique needs of institutional clients, io.vault enables the secure storage and seamless transaction of digital assets. It stands as a solution for Over-the-counter (OTC) counterparts, Decentralised Financial (DeFi) platforms, cryptocurrency exchanges, active trading funds, and more. Additionally, io.vault can be customised to meet the specific requirements of any company managing digital assets, providing a flexible and secure solution.

According to the company, io.vault is poised to become a disruptive force in the sphere of digital asset management, with its potential to reshape the future landscape of financial networks. By leveraging innovative technology and their own track record, io.finnet is aiming to drive the creation of a more secure and decentralised financial ecosystem.

The basis of this technology is io.finnet's proprietary tool, Trustless Multi-Party-Computation (tMPC). It serves to enhance the security of digital asset management by enabling the distribution of weighted signing authority among multiple participants. Audited by Kudelski Security, this solution provides scalability and security for managing digital assets. It also facilitates the customisation of signing requirements to better fit specific organisational needs, all while maintaining user autonomy over assets.

"Scalability is a major hurdle for companies managing digital assets," stated Gregory Pepin, CEO of io.finnet. "Traditional solutions just fall short, often lacking the necessary security and seamless integration. io.vault solves this issue by empowering companies to securely manage their own assets, without ever losing control."

Contrary to custodial services that normally hold private keys, io.vault assures companies can maintain direct control of their assets. It offers a fully customisable solution for validating transactions, ensuring companies the flexibility and security to expand their operations. This response to growing distrust in third-party custodians, following high-profile security breaches like those seen with Celsius and BlockFi, allows companies to break free of outsourced custody vulnerabilities and dependencies.

Pepin further enthused, "io.vault is a game-changer. It offers a secure, scalable, and trustworthy alternative to conventional custodian services. This positions io.finnet as a forerunner in catering to the evolving needs of the digital asset management field."

With the introduction of io.vault, along with their existing services, io.finnet sees itself as a trendsetter, mapping the path to a decentralised financial network, using revolutionary technologies. This forward-thinking approach aims to set io.finnet apart in the increasingly dynamic digital asset management field.