Crypto Custody for Corporations - How
Companies Should Protect Their Digital Assets
The Bugatti Chiron can go from 0 – 60mph in 2.3 seconds. That’s pretty fast. But cryptocurrency evolved from a dubious fad to a mainstream industry in less than ten years.
Now that’s some incredible speed.
And with great technology comes great accessibility. Crypto, namely Bitcoin and Ethereum, make transactions private and secure. It provides diversity in payment options and paves the way for decentralized software and platforms.
As such, it’s no surprise that companies and large corporations have gone keen on crypto. Household brands like Starbucks, Adidas and Disney have already integrated crypto into their payment systems. Though it’s a relatively new process and may take a while to become a global standard, let’s all agree now that it’s much cooler to buy a cup of coffee with Bitcoin.
But the reality is benefits don’t always come without substantial risks. Especially when it comes to something with many inherent variables like crypto.
Security is a major concern. You can store your coins in self custody wallets and crypto exchanges, but they can only do so much. Large scale operations require a much denser layer of protection. This is one of the many reasons crypto custody is essential to securing a company’s digital assets.
Crypto custody mitigates risk of operational errors
Errors are unfortunately an inevitable part of any business. That’s why it’s a company’s primary responsibility to minimize that part.
If an employee accidentally sends crypto payment to the wrong address or loses the private key, recovery would be nearly impossible in most cases.
Having a crypto custody solution in place can help prevent such disastrous scenarios. A crypto custodian will protect the company with failsafe methods, such as MPC (multiparty computation.)
By assigning multiple approvers to a wallet, a transaction always goes through many confirmation stages before becoming final. This makes every big decision a team effort.
Crypto custody helps satisfy compliance and regulatory
Depending on what your company does, it may be required to implement a certain degree of security measures. This happens a lot when said company provides any type of financial account, like e-commerce or gift cards. In cases like this, having a mere non-custodial wallet may not suffice.
Crypto custody offers an extra layer of security for the company as well as its customers. That, in turn, ensures the company is in compliance with the regulations within their jurisdiction.
Crypto custody provides a smoother operation
By not having to worry about security, your operations may become more efficient.
This also obviates any micromanagement from higher executives and employees will be able to focus on more important tasks. Knowing all your transactions are firmly gripped by many sets of eyes can be a game changer for most companies.
Atato custody offers the highest level of security
With unlimited wallets in your workspace, Atato custody provides capacity for large scale operations.
Our bank-grade MPC ensures no single transaction goes unaccounted for. You can also set custom policies for each wallet and assign multiple approvers.
Client assets are stored independently and the Atato infrastructure does not allow us to interfere with your property in any way.
Protect your brand and your digital assets now.