New Wallet Launch and Partnerships

In a rather exciting twist for institutional investors, INX has rolled out a cutting-edge wallet complete with compliance features. This significant development, announced on May 3, was born from a collaboration with the formidable wallet infrastructure provider, BitGo. Together, they have birthed a wallet that employs state-of-the-art multi-party computation (MPC) technology, paving the way for a more secure environment for holding digital assets.

The Rise of Compliance in the Digital Asset Landscape

As digital currencies invade the mainstream, compliance has become the holy grail. INX’s latest wallet is designed to offer a solution that allows institutions to abide by cybersecurity and custody standards while managing INX securities tokens. By ensuring that the private key isn’t accessible to just one person, the wallet has adopted a smart approach – splitting keys into three or more shards. These shards must unite to authorize transactions, significantly enhancing security.

Employee Access Management Made Easier

One of the most fascinating features of this wallet is the flexibility it offers in managing employee access privileges. Institutions can now assign various roles such as “viewers,” “spenders,” “approvers,” and “administrators” to different employees. Talk about delegation! This function allows companies to mirror their internal hierarchies and separate clients’ assets by distributing funds across multiple wallets, thus giving clients a handle over their accounts.

A Step Towards Web3 Adoption

Lisa Jowett, the head of platform sales at BitGo, is optimistic about this development. She believes that the new features will boost institutional investors’ comfort in tapping into Web3 technologies. Jowett’s vision? A seamless connection between their wallets and the INX platform without sacrificing security. It’s a bold step towards unlocking new investment horizons, marking a watershed moment for institutional adoption of Web3.

Looking Ahead: The Future of Assets on Blockchain

INX celebrated a significant milestone just a month prior, launching its inaugural equity token from Greenbriar Capital. Douglas Borthwick, an advisor at INX, anticipates a future where all assets will find their rightful home on the blockchain. Although the Securities and Exchange Commission (SEC) oversees INX’s operations as a broker-dealer, some experts echo concerns about the lack of clarity in U.S. crypto regulations. They argue this ambiguity poses challenges for many crypto exchanges aiming for similar legitimacy.