Digivault Launches ‘Permanently Live’ Cryptocurrency Custody

Diginex — a crypto firm to be traded on Nasdaq — has launched a new permanently live custody solution through its subsidiary Digivault.

According to an announcement on April 16, the new custody solution — dubbed Helix — protects its users against key duplication, theft, features hardware protection of networks and operates from military-grade secure locations.

A security-focused solution

Helix is integrated with the firm’s Kelvin cold storage solution, which enables the storage of crypto assets in vaults that also store gold and silver in Asia and Europe. The custody solution is compliant with the U.K. government-backed Cyber Essential Plus Certification. Robert Cooper, Digivault’s CEO, told Cointelegraph:

“We have built a scalable platform that is capable of offering custody of a number of digital assets including payment tokens and security tokens (once the appropriate licenses have been sought).”

Cooper claims that the advantage of Helios over the solutions offered to competitors is higher security. According to him, the service “will enable Digivault to meet the tokenization needs of institutions as they expand their digital presence.”

Digivault calls Helios a “warm custody” solution, meaning that it allows online access to the crypto assets online much like a hot custody solution. Firm documents explain that the difference between the two is that in the case of warm custody, the keys are stored in a protected hardware device and not directly on the server.

Diginex: a future publicly-traded crypto firm

As Cointelegraph reported in February, the United States Securities and Exchange Commission has already approved the next step of the firm’s Nasdaq listing.

The firm is scheduled to go public through a reverse merger with investment holding company 8i Enterprises Acquisition Corp. which was announced in July 2019. When asked about the status of Diginex’s listing Cooper said:

“Diginex remains fully committed to completing the proposed share exchange agreement subject to regulatory and shareholder approval. It is anticipated the deal will complete in June and as such our Nasdaq listing is expected then.”