INX Launches Compliance-Focused Wallet for Institutions

Introduction to INX's New Wallet

Securities token platform INX has introduced a wallet with advanced compliance features tailored for institutional use. Announced on May 3, the wallet development is a collaboration with BitGo, a leading wallet infrastructure provider. This new solution aims to enhance security and compliance in the financial industry.

Advanced Technology Integration

The wallet leverages multi-party computation (MPC) technology. This cutting-edge technology ensures high security by allowing multiple parties to jointly compute a function while keeping their inputs private. This approach significantly boosts the wallet’s security architecture, making it suitable for institutional needs.

Compliance-Driven Token Standard

INX's securities tokens are built on the Ethereum blockchain and adhere to the ERC-1404 token standard. Established in 2018, this standard facilitates the creation of compliance-friendly Ethereum tokens. It ensures that transactions are restricted to users who have completed identity verification with participating institutions. This feature is crucial for maintaining regulatory compliance in token transactions.

Institutional Benefits

By combining BitGo's infrastructure with INX's token standards, the wallet provides institutions with a compliant and secure method for handling digital securities. This development reflects a growing trend towards integrating regulatory compliance into blockchain solutions, making it easier for institutions to participate in the digital asset ecosystem.

Conclusion

INX’s new wallet represents a significant advancement in the integration of compliance and security within the blockchain space. The collaboration with BitGo and the use of MPC technology position the wallet as a robust tool for institutions navigating the complexities of digital securities. This innovation is set to enhance trust and participation in the evolving digital finance landscape.