Digital Assets: Onchain Custodian Announces Collaboration with Trading Platform CyberBank

May 18, 2020 | Digital Assets, News

Onchain will provide a secure compliant custody solution to CyberBank

Onchain Custodian, which is a digital asset custody provider backed by Sequoia Capital, Fosun, and DHVC Capital, will provide secure and insured custody to CyberBank for its digital assets. (Acrofan).

CyberBank is a leading cryptocurrency exchange that allows its customers to buy sell and manage cryptocurrencies in minutes. It combines digital assets trading, custodianship, and investment products under one roof. It’s Cyber Bank App has also launched.  It claims to have strong liquidity and funding to support its trading platform.

CyberBank’s digital asset solutions include cloud-based trading, and platforms for sport, futures, options, and OTC trading.

Meanwhile, Onchain Custodian provides insurance cover over the digital assets under its custody and provides an advanced, institutional grade, custody platform solution. The latter includes multi-signature technology, warm wallet secured with IBM’s hardware security module (HSM), as well as compliant, AML, and CFT technology.

Unique alliance

Neo Peng, the founder of CyberBank, said: “Having the alliance between two giants, we will build a unique, fully custodian digital asset exchange platform with insurance coverage, hence forming an ecosystem where members are motivated to trade knowing the assets are safely held by custodial wallets. CyberBank will provide spot trading, contract trading, and business expansion for investors.”

Onchain Custodian China VP Jimmy Cheung said: “Digital asset has become an inevitable trend worldwide and it will require standardization in all trading business from trading groups. Tapping on the exchange business as an entry to, and its network linkage to other businesses, one can extend the life cycle of a single business. Completing that with nurturing of industry talents, conventional finance groups will be able to transform and upgrade themselves to digital finance technology groups.”

Other Onchain tie-ups

Earlier this month, Singapore-based CACHE announced a strategic partnership with Onchain Custodian for the insured custody of gold-backed tokens.

Last month, KuCoin entered a strategic cooperation with Onchain Custodian for the safe custody of Kucoin crypto assets.

Related Story:   Digital Assets: Gold-backed Tokens Provider Cache Ties With Onchain Custodian

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

May 21, 2020

Venture Capital: British Startup Offers Travel Jaunts on the Never-Never

Venture Capital: British Startup Offers Travel Jaunts on the Never-Never

Latest Alternative Investment News
Liquid Alternatives: RIP 60:40. Liquid Alts Solve the New Equation
May 22, 2020     Latest News, Liquid Alternatives, News

Volatile equity markets and declining fixed income yields have turned the traditional 60:40 portfolio allocation between stocks and bonds on its head. According to one study, an investor would today…
Digital Assets: The Texas Grid Pays Thiel-backed Layer1 to not Mine Cryptos in August
May 22, 2020     Digital Assets, News

Layer1, the bitcoin miner backed by the likes of top-flight VC Peter Thiel and early-stage investor Shasta Ventures, based its operations in west Texas to take advantage of cheap power….
Venture Capital: Beijing-based start-up Missfresh May Soon Nab $500M
May 22, 2020     News, Venture Capital

The Covid-19 has boosted the fortunes of online grocery delivery start-up Missfresh. Locked-in families have stepped up their demand for groceries and fresh foods to be delivered at home amidst…
Fintech: Visa Enters an Investment and Strategic Partnership with GoodData
May 22, 2020     FinTech, News

Global analytics firm GoodData announced it had received an investment from Visa Ventures, the corporate venture investment division of payments giant Visa (NYSE: V). GoodData also said the two companies…

Scroll to Top