Mode”Exciting News: Cryptocurrency Custody Company Reveals Big Client as It Comes Out of Stealth Mode!

Cryptocurrency safekeeping firm Cordial Systems, which recently emerged from stealth mode, has already secured major clients such as Jump Crypto and Backpack Exchange. Unlike traditional safekeeping solutions, Cordial’s self-custody technology allows all software and processes to be run on the customer side. This approach reduces the risk of a single point of failure and gives clients more control over their assets.

Cordial’s co-founder Sebastian Higgs explained in an interview that their product, Cordial Treasury, deviates from the common multiparty computation (MPC) method of protecting wallets. In MPC, cryptographic keys are split into shards and shared between the client and the vendor. However, Cordial takes a different approach by handing over the entire process to the customer.

The company’s decision to put control back into the hands of the customer comes at a time when bankruptcies and hacks of crypto companies have left customers without access to their assets. This has driven institutions towards self-custodial solutions such as MPC. While these solutions still require a third party, Cordial’s approach gives the customer full independence.

Cordial Treasury currently supports over 30 blockchains, including Bitcoin, Ethereum, and other popular chains. The platform also has the capability to add new networks in as little as one week. This level of flexibility makes it an attractive option for businesses looking to diversify their cryptocurrency holdings.

Investing in Cordial Systems, Jump Trading’s CTO Alex Davies shared his positive experience using Cordial Treasury. According to Davies, Cordial’s technology has helped Jump’s digital asset business scale and stay at the forefront of the industry. The firm is also pleased to have an invested interest in Cordial, although the details of the investment were not disclosed.

Cordial’s unique approach to self-custody and its growing list of supported networks make it a promising option for institutional clients. With its simplicity and customer-controlled process, the company is poised to attract more clients in the future.