Matrixport Introduces Warm And Cold Custody Services For NFTs

The debut of Warm and Cold custody services for Non-Fungible Tokens (NFTs) via Matrixport’s third-party institutional custody service, Cactus Custody, has been announced by Asia’s fastest-growing one-stop digital asset financial services platform.

Cactus Custody and Matrixport launch a Custody Service

According to an official press release, Matrixport’s latest NFT custody services provide institutions the ability to safely store and manage their NFT and crypto assets in one place.

The most recent solution, which was introduced in collaboration with Cactus Custody NFT asset management, has improved risk management tools that let institutions modify user access rules and whitelist decentralized apps and smart contracts.

Only authorized NFT marketplaces, DeFi, GameFi, SocialFi, and Web3 protocols will be able to communicate with the platform’s wallets in the meanwhile. This significantly lowers the wallets’ vulnerability to potential fraud, hacking, and phishing assaults.

Cynthia Wu, COO of Matrixport, commented on the development:

“Matrixport continues to evolve its offerings in-line with market needs. As use cases for NFTs expand and mature, investors are seeking out best-in-class protection for these valuable digital assets against malicious actors. Cactus Custody™ is stepping up with the infrastructure and tools to provide our clients with peace of mind.”

Services for warm and cold custody

The heated and cold custody option offered by Matrixport has a number of further advantages. For example, the warm storage solution makes it possible to set up different company lines for asset segregation, interface with various NFT marketplaces without any issues using the Cactus Custody Defi Connector, and have access to private bank-grade vaults to protect private keys.

The multi-sig technique used by the cold storage system also stores private keys offline in numerous bank-grade vaults spread across 4 nations and 3 continents.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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