Custody

Two Sigma and ConsenSys back U.K. custody startup in $8 million fundraise

December 6, 2018, 10:17AM EDT

Two Sigma Ventures and crypto powerhouse ConsenSys are backing Trustology, a U.K. firm tackling the problem of safeguarding digital assets for wealthy individuals, businesses, and investors. The company has built TrustVault, a new custody solution that aims to be safer than cold storage custody options and as fast as hot wallet ones. "It combines un-matched private key protection against cyber and physical threats with low latency execution, by safekeeping private keys and control code inside tamper-proof, programmable hardware security modules hosted in secure data centers, with encrypted backups in the cloud," a news release said. Trustology's founder Alex Batlin led blockchain innovation at BNY Mellon and UBS. Trustology is in the process of onboarding beta clients, according to the release. (Business Insider)