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Onchain Custodian to Secure Hedera Hashgraph’s HBAR Tokens

Onchain Custodian, a Singapore-based digital asset custody provider, partnered with Hedera Hashgraph. This enhances the security of the network’s native cryptocurrency HBAR.

With the partnership, Onchain will offer a secure, insured, compliant, and convenient solution for the safekeeping of institutional investments. With a secure multi-signature crypto wallet and premium fail-safe measures, Onchain is providing custody and open finance services to many elite funds in Asia, as well as family offices and high net-worth individuals (HNWIs).

As many HBAR holders are actually based in Asia, Jordan Fried, Hedera’s SVP of Business Development said that,

It’s important that they have safe and reliable digital asset custody in their own timezone.

Onchain’s SAFE™ platform complements its cold storage offering with a wallet management service supported by the IBM Cloud™ Hyper Protect Crypto Services. Compared to the traditional banks’ Level 3 Hardware Security Model (HSM), Onchain secures client funds using a Level 4 HSM.

Mainly due to the vulnerability of crypto exchanges in terms of asset protection, more investors tend to trust independent third-party custodians like Onchain.

Alexandre Kech, CEO of Onchain, explained that,

“This represents a maturation of the industry as crypto becomes increasingly attractive to the traditional sector.”

Focused on providing long-term security for HBAR holders, Hedera Hashgraph also works with Kingdom Trust, another crypto custodian. For this reason, they reduce the risk of holding assets directly and achieve regulatory compliance, transparency, and accountability.

Moreover, many blockchain-powered entities choose Onchain in implementing the highest level of cybersecurity. These include Xfers, Zilliqa, Limestone Network, CACHE, and Celsius Network.

Casseia Perez

An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.

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