What is Klever Kustody and how does it benefit you?

Klever considers the custody of user funds to be a fundamental part of the utility of blockchain projects in the crypto space.

crypto custody

By way of custody, large institutional investors can only be attracted to blockchain and cryptocurrencies when these bodies can be properly involved in the management and control of these large funds.

Large institutional investors are apprehensive about threading into the direction of managing cryptocurrency portfolios because of blockchain technology’s fundamentals and its ability to remove a third party (intermediaries) from control of the funds.

If this concept of custody of funds was explained clearly and concisely, there could be a possibility of attracting more institutional investors to take advantage of the opportunities available.

What is Custody of crypto funds?

According to the United Kingdom Financial Conduct Authority (FCA) custody assets is a designated amount of money or assets that is received or held on behalf of a client for investment purposes. These assets can be channeled to a particular portfolio on behalf of several clients or investors.

The same is also applicable and possible for investors in the blockchain technology and cryptocurrency industry. This is made possible by blockchain developers who are responsible for developing such platforms to accommodate the inflow of large amounts for custody purposes.

There are high net worth individuals who may be interested in investing in asset portfolio management as this is becoming more sophisticated and sought after in recent years.

However, in cryptocurrency custody solutions, copious quantities of tokens are securely stored and monitored. In the crypto ecosystem, custody solutions have been a recent innovation that has been expected to herald the entry of institutional capital.

It is noteworthy that crypto and blockchain present several challenges for institutional players, most notably the safe custody of assets. 

Based on the level of insights and experience of the Klever team with top custody systems and an understanding of their limitations, Klever decided to create a system with all the features and security that Klever Exchange needs. 

What is Klever custody (Kustody)?

Klever Custody will allow users to share wallets with each other and verify transactions by getting their mutual approval. Klever Custody will support the top 20+ blockchains and over 30,000 tokens, making it one of the most secure and comprehensive custody services available. 

Although compared to the self-custody of Klever Wallet, Klever custody (Kustody) grants users the possibility of having several users sharing the same wallet, as multiple users can sign transactions simultaneously. 

With this feature, transactions will not go through if, for instance, any of the administrators do not approve those transactions as it would require a multi-signature to confirm the transactions. 

However, Klever Kustody has much more potential, since it offers a set of features that can improve safety and provide proper shared management and control of crypto assets. 

What are the benefits of the Klever Kustody?

Klever uses a powerful APII, such that developers can build and manage their own blockchain and crypto applications without incurring deep wallet development and integration costs in setting up their Kustody wallets.

Another key benefit of the Klever Kustody is the elevated level of security which it provides to the developers and potential users from the possibility of a potential hack as the system uses the military grade encryption technology to mitigate possibilities of a hack.

It is pertinent to note that developers can potentially save more time, which is as much as 100,000+ hours of development in creating and implementing their own codes of development. Thereby shifting their focus from blockchain integration and interoperability and going ahead to develop what is needed for their project to be successful.

Why do developers need to start building using the Klever Kustody?

At Klever, we believe that everyone has the human right to access essential financial tools and ultimately the freedom to manage their own funds without limitation. 

Therefore, Klever Finance’s overarching goal is to build out the infrastructure for a world where everyone can receive financial tools as a public service. KleverChain will function as the foundation to empower this ambition, and this is the reason we encourage more developers to look at the potential of using our technology to achieve their goals in a seamless yet affordable way.

It remains one of Klever’s goals to provide public financial services using blockchain technology to all people worldwide in a safe, trustless way, using mobile and web applications. 

Exit mobile version