Cordial Treasury, a self-hosted product that empowers financial institutions to independently manage their digital asset operations in-house, has enabled subscriber firms to efficiently and securely manage storage and movement of an aggregate of $2B+ USD in assets across 30 blockchains over the previous 12 months.
DOVER, Del., March 14, 2024 /PRNewswire-PRWeb/ -- Cordial Systems, a provider of institutional-grade self custody software using a Zero Trust security model, launches Cordial Treasury with several clients, including Backpack Exchange and Jump Crypto, the crypto unit of Jump Trading Group. Cordial Treasury is a self-hosted product that enables institutions to independently manage their digital asset operations, empowering firms like Jump Crypto to run their own MPC wallet and policy solutions in-house. With over 30 chains already supported and in use by industry leading participants, Cordial Treasury is poised to offer institutions best-in-class digital asset management solutions.
Prior to the launch of Cordial Treasury, many institutions proved reliant on third parties for holding private keys, correctly maintaining policies, and ultimately having too much power over the account. With no control over administrative, software, or policy updates, institutions were often exposing their digital assets to significant vendor risk and questionable levels of trust. Cordial Treasury is the first institutional-grade self custody software using a Zero Trust security model that enables institutions to take full control over not just their keys, but their policies as well. Safely moving security sensitive processes away from the vendor and back in-house with the customer.
Nicolas Stalder, CEO & Co-Founder of Cordial Systems, said, "The big unlock is that Cordial Treasury allows institutions to safely run custody processes within their own corporate firewalls and reduce the vendor's responsibility to just routine code maintenance if so desired. No more need to maximally trust SaaS hosted solutions, institutions can now independently manage their day-to-day digital asset operations in a Zero Trust setup. This is why we are especially excited to roll out our solution with proprietary traders and exchanges as part of our early clients, proving that crypto firms and companies can participate in this fast-growing industry without compromising on any aspect of security or sovereignty."
Alex Davies, CTO of Jump Trading Group, shared, "Cordial Systems have been a critical partner as we have scaled our digital asset business. We host Cordial Treasury in a highly available and secure configuration as part of our proprietary technology stack. Being able to enforce precisely defined policies from our digital asset control framework via independently controlled software with large numbers both of internal users and external chains has allowed us to safely keep up with fast moving business requirements and stay at the forefront of the industry. We are extremely happy to be users of Cordial Treasury and investors in Cordial Systems."
Armani Ferrante, CEO of Backpack, said, "As a regulated institution under VARA, it is important that Backpack has demonstrable controls to safeguard our customer assets and evidence our proof of reserves. Cordial Treasury is an important part of our tooling that we rely on daily."
Cordial Treasury currently supports over 30 blockchains in total including all bitcoin and relevant forks, Ethereum and other EVM chains, Polkadot ecosystem, Cosmos ecosystem, Provenance, Aptos, and Sui. Other networks have the capability to be added in as little time as 1 week.
To learn more about Cordial Treasury, please visit http://www.cordialsystems.com
For media inquiries, please contact Phil LeRoy at (310) 260-7901 or Phil(at)MelrosePR(dot)com.
About Cordial Systems
Cordial Systems is a provider of institutional-grade self custody software using a Zero Trust security model. Cordial Systems' first product, Cordial Treasury, provides institutions with the first fully trustless solution that delivers full sovereignty—not just over their digital asset keys—but also including transaction policies, key share generation process, backup and recovery, database of audit logs, and account level changes. In other words, Cordial Treasury empowers institutions with the infrastructure to run their own MPC wallet solutions in-house without the heavy vendor side dependencies.
SOURCE Cordial Systems
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