Announcements>COTI Chooses Binance Custody as Its Custody Partner | 2022-06-08

COTI Chooses Binance Custody as Its Custody Partner | 2022-06-08

11-04 06:36:45


 

We are pleased to announce that COTI has chosen Binance Custody to safeguard its digital assets. COTI’s assets will be secured with the highest possible standards using Binance Custody’s institutional-grade cold storage solutions. 

Binance Custody’s cold storage solution features:

  • Secure and offline Multi-Party Computation (MPC)
  • Key shares kept on air-gapped Hardware Security Modules (HSMs)
  • Customizable multi-party approval scheme
  • Unique deposit addresses for each client

 

Cold storage solutions are widely-regarded as significantly more secure than hot storage since they are offline and not connected to the internet, therefore making unauthorized access difficult. For some institutions, keeping their assets offline can mean missing out on investment and liquidity opportunities. 

Binance Custody’s Binance Mirror product enables clients to receive a 1:1 credit of their assets in cold storage for use with the full suite of products and services on the Binance exchange. This ensures assets are securely protected in cold storage while also enabling clients to access liquidity for trading. Further, the Cold Convert feature aims to provide institutions with a one-stop digital asset solution allowing them to simultaneously secure and utilize their assets more efficiently. By choosing Binance Custody, COTI can now use Cold Convert to trade directly from their cold vault and customize their slippage tolerance without compromising on security.

 

Shahaf Bar-Geffen, COTI CEO, said: “As part of our strategic long-term partnership with Binance, we are glad to integrate Binance Custody to ensure that our digital assets are safely stored with an institutional-grade virtual asset custody platform. We are proud to be one of the early adopters to secure their digital assets on Binance Custody’s platform, and look forward to exploring additional collaboration opportunities with the wider Binance ecosystem.” 

 

About Binance Custody

Binance Custody is fully regulated, insured, and seamlessly integrated into the Binance ecosystem. The digital asset custody service uses multi-party computation (MPC) technology to provide bespoke solutions for clients. With no compromise between world-class security and an easy and efficient user experience, the platform features a customizable multi-approval scheme, allowing institutions to operate crypto assets systematically, securely, and in a controlled fashion. The core technology of our custodial service is also certified with ISO 27001 & 27701, the world's best-known quality management standards in information security and privacy protection.

 

About COTI

COTI is a DAG-based layer 1, specifically designed for enterprises. COTI meets the challenges of both centralized finance (fees, latency, global inclusion and risk) and decentralized finance (fees, clogging and complexity) by introducing a new type of DAG-based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and optimized for finance.

To learn more about COTI:

On Website:   https://coti.io/ 
On Twitter:   @COTInetwork