Two Sigma Ventures and crypto powerhouse ConsenSys are backing Trustology, a U.K. firm tackling the problem of safeguarding digital assets for wealthy individuals, businesses, and investors. The company has built TrustVault, a new custody solution that aims to be safer than cold storage custody options and as fast as hot wallet ones. “It combines un-matched private key protection against cyber and physical threats with low latency execution, by safekeeping private keys and control code inside tamper-proof, programmable hardware security modules hosted in secure data centers, with encrypted backups in the cloud,” a news release said. Trustology’s founder Alex Batlin led blockchain innovation at BNY Mellon and UBS. Trustology is in the process of onboarding beta clients, according to the release.
“ConsenSys invests in solutions that elevate — and work toward integrating — the blockchain ecosystem, providing individuals and institutions with the tools needed to transition from legacy systems to a world built on decentralised infrastructure,”
said Joseph Lubin, ConsenSys founder and Ethereum cryptocurrency cofounder, in a statement.
“Trustology has developed breakthroughs in key management and is providing support services to clients seeking unparalleled safeguarding for digital assets. By prioritizing security without the need to sacrifice accessibility, Trustology will serve current digital asset holders and attract new institutional and individual investors to the space. Trustology represents a profound technological piece that will move the needle noticeably on institutional adoption of digital assets. And the world-class Trustology team has the pedigree to drive these discussions.”