Hong Kong – Cactus Custody Crypto Management System has launched six enhancements included in the brand new 2.0 version announced today.
As cryptocurrency gains mainstream adoption with major financial institutions, the normalization of the cryptocurrency and mining firms become inevitable. The line between the “crypto” firm and a traditional financial services firm blurs.
Cactus Custody, originated in early 2018 as industry leader Bitmain’s in-house crypto management system, has transformed into a trusted and qualified third party custodian in the industry.
Since the official launch of Cactus Custody, they have devoted their best efforts to constantly improve security and enhance user experiences. Cactus Custody was granted the TCSP license in September 2019 and registered as a Trust Company in Hong Kong during December 2019.
Regulated by the Trustee Ordinance in Hong Kong, Cactus Custody meets the capital reserve requirements and acts within the Anti-Money Laundering and Counter-Terrorist Financing guidelines. They aim to provide clients with world-class protection not only with best-in-class system design and infrastructure but also with regulatory compliance.
With respect to user experience, Cactus Custody always aims to meet or exceed client expectation. The launching of Cactus Custody Crypto Management System Version 2.0 this week with six enhancements comes serendipitously before the bitcoin halving landmark event.
Cactus Custody offers brand new dashboard features that can give clients a snapshot of all enterprise assets by distribution, breakdown by business lines and users. Integrated with third party market price data into the dashboard to show the real time notional value of the assets under custody, clients can sort and display dashboard by the entire enterprise or each business line to view the charts in different granularity.
Seamless and flexible collaboration is the key for efficiency. This is especially true when the enterprise is sitting across several locations or businesses. At Cactus Custody, they have seen clients with varying business verticals and diverse organizational structures coming up with very different internal approval processes. They know it is important to be able to cater to each scenario.
The enhanced approval matrix feature supports all kinds of decision-making structures. Horizontally, clients can set up m/n checkers of the same approval level. Vertically, clients can also set up the approval process by thresholds (by value of the withdrawal). For example, any withdrawal above 100 BTC will automatically trigger the higher approval level requiring management permission. New approval matrix appreciates the flexibility and customization needs of every enterprise.
From login to device authorization and deposit notice to order approval application, all key actions will trigger notifications by email or SMS. Clients won’t miss any important updates. It is adding additional security to your account as well.
Security is never trivial. Cactus Custody provides comprehensive risk control tools that the clients need.
Clients can customize and download all kinds of asset reports, transaction history and account details and sort the data by business line, time frame and asset type in the Download Center page with ease. This feature can streamline internal and external reconciliation and audits and saves your staff hours of work and mitigate errors.
Currently, Cactus Custody provides the “Prime” account model. “Prime” user’s digital assets stay in segregated blockchain addresses, independent from other client’s addresses and verifiable on chain. “Prime” provides 100% deep cold storage while offering convenient hot storage optionality to clients. When clients create wallet(s) for UTXO based assets, “Prime” account provides wallets of two types of withdrawal options: Mixed or Segregated.
For Mixed Wallet 一 the withdrawal process is simplified, the client doesn’t need to specify which address to withdraw from. Cactus Custody system will construct the transaction in a way that minimizes the transaction fee and automatically choose the addresses to withdraw from.
For Segregated Wallet 一 the client can withdraw from his/her specified address and therefore has control of the balance of each address precisely under the wallet.
Both types of wallets support batch withdrawals function that allows users to send numerous transactions with one click.
Cactus Custody’s vision is to bring the market with security, transparency and efficiency. We are laying the foundation of trust in this industry, and we look forward to joining you in the digital economy.
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Last modified: May 19, 2020 7:55 PM UTC