- Zilliqa recently partnered with Onchain Custodian to increase the security of its assets.
- Through the partnership, the firms hope to increase security and bridge the gap between ecosystems.
- Zilliqa is one of the biggest blockchains around, which benefits Onchain, while ZIL will become more secure.
Recently, a high-security blockchain platform, Zilliqa, decided to team up with Onchain Custodian, a crypto custody service from Singapore. The new partnership would allow Zilliqa to secure and insure its own network assets, including ZIL, ZRC-2 tokens, and even Singapore-based stablecoin, XSGD.
Zilliqa teams up with Onchain
Demand for highly-secure crypto custody solutions continues to rise within the digital currency industry. Institutional investors are, in fact, interested in crypto, but not so much in having to buy, manage, and secure the coins themselves.
Meanwhile, crypto firms that wish to secure their assets are teaming up with these custodians in order to make them attractive to institutional investors.
Onchain will provide support for the tokens through another collaboration, this time with a fintech payment platform, Xfers. Together, they will kickstart the campaign to secure Zilliqa’s tokens, starting with XSGD, according to the head of StraitsX at Xfers, Aymeric Salley.
Sally noted that the move will provide a key platform for accelerating the growth of both, the Singapore-based stablecoin’s ecosystem, as well as digital asset transactions. Meanwhile, Xfers itself will be able to “keep reaping the cost and scalability benefits enabled by the Zilliqa blockchain protocol.”
Onchain’s own CEO, Alexandre Kech, said that the partnership is necessary in order to meet the clients’ needs. New financial instruments continue to emerge in the blockchain space, and better infrastructure is needed for clients’ assets to be adequately secured.
However, companies are not only going for better security. They also aim to try and bridge the gap between various projects’ ecosystems. And, with Zilliqa being one of the leading projects, it is the best choice for such a partnership in the area. Lastly, Zilliqa itself will see the continued growth of its ecosystem, and so must its security and compliance solutions, as its President and Chief Scientific Officer, Amrit Kumar, recently stated. Through this partnership, the firm will become more secure and inspire greater trust.