HyperBC Has Obtained the Lithuanian License for Crypto Asset Custody, Speeding up Global Compliance Operations

The market size of digital assets has continued to expand in pace with the rapid development of blockchain technology, and the investment needs of institutional investors keep rising. As a result, supervision and compliance become the basis for the development of crypto assets and the necessary “infrastructure”. The official listing of CoinBase in 2021 has let people around the world know that cryptocurrencies have their value. It is a milestone in the history of cryptocurrency. Since then more and more companies recognize cryptocurrencies and accept them for transactions.

In the traditional finance field, compliant platforms are more favored by investors and institution, so as a growing trillion-level market, a crypto asset provider will stand out in the fierce market competition when it is equipped with compliance operations.

A few days ago, HyperBC made a breakthrough in the compliance process and obtained the Lithuanian license for crypto asset custody. Meanwhile, HyperBC will actively continue to apply for licenses in other countries in the future to provide users with more compliant, professional, safe and efficient custody solutions for crypto assets under the supervision of financial institutions.

HyperBC is a pioneering asset custody solution provider for businesses to securely store and manage their digital assets on the blockchain.

Our mission is to provide your business with the most secure asset custody and payment solutions to ensure the safe circulation of digital assets, as well as to fully support your blockchain-based financial business.

Our cutting-edge security and risk control technology, along with our custom and scalable solutions, places us at the top of the industry. Since our inception in 2017, we have managed assets amounting to $30 billion for 50+ businesses around the world.

Deal with the risk of encrypted asset theft

HyperBC implements the most advanced digital asset custody 2.0 solution, which combines MPC Secure Multi-Party Computing, TEE Trusted Environment, Secure Communication, Zero Trust Architecture, Policy Engine, Multi-Cloud TEE Security Architecture, Privacy Computing Elliptic Curve, Digital Signature Algorithm (ECDSA), Zero-Knowledge Proofs (ZKPS), and Homomorphic Encryption (HE).

Our technology allows the assets of the business to be completely controlled by themselves and provides a full security solution of safe storage management to protect the asset storage environment of the business.

MPC secure multi-party computation:

MPC secure multi-party computing is a branch of cryptography that allows multiple data owners to collaborate without trusting each other, output technical results, and ensure that no party obtains any information other than the results.

In terms of private key storage management, MPC has the following advantages:

1. Eliminate the single-point problem of private keys

2. Supports all asset types

3. Lower handling fee than multi-signature on-chain

4. Flexible number of multi-signature private keys

TEE trusted environment:

TEE (Trusted Execution Environment) isolates and protects private data operations at the hardware level. Hackers can gain access to the server through a variety of methods, but they will not be able to obtain sensitive private information. Even with the most powerful hacking tools, they will be unable to manipulate private data. To prevent such threats/risks, HyperBC utilizes SGX, Intel’s most secure trusted environment hardware.

Multi-cloud TEE security architecture

Only the merchant can initiate the generation of private key fragmentation instructions, which are generated locally in the merchant’s and HyperBC’s trusted environment via the MPC multi-party computing network. Through policy engine rules, the MPC multi-party computing network collects multi-party operation data and generates final transaction signature data for broadcast transactions on the chain. Private key fragmentation will never appear in the P2P network or on any device during the entire process.

HyperBC currently integrates 44+ main chains and supports both main chain coins and all Token contract coins, and the public chain assets supported are consistently synchronized with market demand.

HyperBC has always strictly adhered to compliance and anti-money laundering (AML) measures and has gone above and beyond to collaborate with the industry’s top service providers to reduce the risks associated with illegal digital assets.

As more and more regulators begin to issue licenses for crypto assets and the transactions, it can be seen changes is happening in governments, from exclusion to wait-and-see, and from wait-and-see to regulation construction. HyperBC believes that the crypto asset industry will follow the development of RegTech (regulatory technology) to be further integrated into compliance supervision. This process will accelerate the adoption for crypto assets around the world, and will justify the existence of crypto assets and allow more crypto assets to enter the portfolio of investors. In the sequence, embracing regulation will become an important strategy for crypto asset service providers in the future process.

In the next step, HyperBC will actively seek to obtain financial licenses from more countries and regions, and combined with years of hard work and technology building in the industry, better crypto asset services will be ensured by increasing focus on compliant operation and risk control except for the basic security guarantee provided by HyperBC.

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HyperBC

HyperBC

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Secure, transparent and efficient crypto asset custody and financial services platform