Developing a secure and non-custodial vault for crypto investors
According to Linkedin, Trustology is developing technology and services to help private and institutional clients to secure and manage their crypto assets. One of its core products is TrustVault, Trustology’s signature, and award-winning custodial wallet platform, which the company claimed as a step-change in key management. The company stated that TrustVault combines highly secure private key protection against cyber and physical threats with low latency execution. The vault does this by securing private keys and control codes inside tamper-proof, programmable hardware security modules hosted in secure data centers, with encrypted backups in the cloud. This way, if user loss the wallet they can still recover it with the help of the company.
According to Crunchbase, Trustology has raised a total of $8M in funding. The last funding round was a seed round raised on December 6, 2018. Two Sigma Ventures and ConsenSys are their ket investors. The company itself has two core members including its CEO Alex Batlin, with 3 board members and advisors, including Joseph Lubin.
The company claims that its TrustVault is suitable for any kind of investor. For example, institutional investors such as asset managers, crypto hedge funds, family offices, and venture capital funds can use the vault to store new tokens, earn yields on tokens with DeFi support or protect assets on their exchanges. Service providers like crypto brokers, crypto exchanges, crypto banks, lending, and cryptocurrency trading platforms can use the vault to protect their clients’ assets with secure crypto custody. Last but not least, individual investors can enjoy a user-friendly, secure wallet to send, buy, receive and hold new tokens as well as major cryptocurrencies like Bitcoin and Ethereum.