Strategic partnership enables regulated institutional custody support for Cardano native assets in the Web3 space
EMURGO Group Pte. Ltd. (“EMURGO”), a global blockchain technology company that provides products and services to drive Web3 adoption of the Cardano blockchain, today announced its strategic partnership with Matrixport’s qualified institutional custodian, Cactus CustodyTM.
Orchestrated by EMURGO, this partnership with Cactus CustodyTM aims to deliver regulated, institutional-grade custody solutions for Cardano native assets, serving a burgeoning community of Web3 developers, decentralized application (dApp) users, and enterprises.
Cactus CustodyTM, holding SOC-2 certification and a license from Hong Kong’s Trust and Company Service Providers Unit, currently safeguards digital assets across more than 30 blockchains for over 300 institutional clients.
Ken Kodama, CEO of EMURGO, said, “The Cardano ecosystem is bigger than ever with millions of native tokens already created and more to come as our community continues to expand year-over-year. EMURGO is excited to have Cactus Custody join the Cardano ecosystem and provide an institutional-grade custodial solution for enterprises and other users to safeguard their Cardano native assets.”
Wendy Jiang, Head of Cactus CustodyTM, said, “The partnership presents a tremendous opportunity to contribute to the vibrant Cardano ecosystem. Given the remarkable growth and sophistication of Cardano native assets, enterprises, developers, and users will require proven yet adaptable institutional-grade custody solutions that can scale with evolving needs. Our collaboration with EMURGO to provide fully compliant and robust custodial services reflects our ongoing commitment to invest and keep pace with the dynamic blockchain industry.”
Cardano’s architecture uniquely includes native assets or multi-asset support, enabling frictionless transactions without requiring smart contracts. This feature streamlines user fees and simplifies the development process for developers building on Cardano. According to intelligence platform Santiment, Cardano is at the forefront of network development activity, and as of October 2023, 8.93 million Cardano native tokens have been created.
Cactus CustodyTM leverages advanced HSM cryptography to nullify key security vulnerabilities, fortifying its position as a trusted leader in institutional-grade custody solutions. By partnering with EMURGO, Cactus CustodyTM enriches its service offerings to include secure custody for Cardano’s native assets, underscoring its commitment to innovation in the dynamic Web3 arena.