Crypto Firm Onchain Custodian to Work with Swathe of VC Firms

Onchain Custodian, a cryptocurrency custodial services provider, announced on Tuesday that it has begun onboarding customers.

The company, which is backed by several companies, including Google investors Sequoia Capital and Chinese conglomerate Fosun, launched two weeks ago in Singapore.

Following that event, the Ontology Foundation, a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology company, said that it would be using Onchain Custodian’s services.

And now, with the Easter weekend behind us, the custodial services provider has announced an array of partnerships.

Most of the firm’s new customers, including Tembusu Partners, Pre Angel, JD Capital, Fission Capital, and Frees Fund, operate in the investment management sector.

“As a leading private equity firm with deep roots in Emerging Asia, Tembusu holds digital asset investments that we want to be safe and properly managed,” said Pak Lum Mock - a managing partner at Tembusu Partners.

“We trust that Onchain Custodian, with its strong Asia Pacific footprint, will offer us the personalised service we are looking for.”

Industry associations

Alongside its new business relationships, Onchain Custodian also pledged to work with industry groups operating in the blockchain ecosystem.

More specifically, the company said that it would be working alongside the Distributed Regtech Collaboration Platform, the Malaysia Blockchain Association, and the Digital Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Association.

“Best practices around digital asset custody are critical to the future of this industry,” said Onchain Custodian’s chief executive officer, Alexandre Kech.

“We are committed to work with customers but also [industry] associations….to build the global standard for digital asset custody.”

To round off its series of announcements, Kech’s firm also said that they will be working with technology firm Accuity to make sure they adhere to anti-money laundering compliance procedures.