Since organizations have begun investing portions of their corporate funds in cryptocurrencies, it is of the utmost importance that businesses have access to crypto wallets that are safe, powerful and provide complete protection from unforeseen attacks.
Below are 6 reasons why your organization needs a sophisticated, user-friendly cryptocurrency wallet app like ORE Vault.
Safeguarding Your Company’s Crypto Holdings via the Multisig Feature
The first requirement of an enterprise crypto wallet is security. ORE Vault provides non-custodial digital asset storage with security for companies that have already assigned a portion of their balance sheets to crypto — or are heading in that direction.
ORE Vault’s multisig functionality requires a set number of authentications to be given in order for transfers to be approved. For example, if the use policy you’ve set up for a particular team wallet needs three out of six signatures, then the transaction cannot go through without this condition being met.
This architecture is much safer than the security in traditional cryptocurrency wallets. As a single user of a conventional wallet, individuals can lose the private key, fall victim to a phishing attack or authorize an illegitimate fund transfer out of the company account.
With ORE Vault, only authorized team members control the private keys and company crypto funds. Since authorization permissions are dependent upon the activity of the company credentials of each employee, they lose access to the wallet once their email is shut down or disabled, thus preventing theft of company funds.
Theft Coverage Underwritten by Lloyds of London
As an enterprise ORE Vault cryptocurrency wallet app customer, you benefit from theft protection coverage due to our partnership with Coincover — underwritten by Lloyds of London. Insurance is available for any value of cryptocurrency. Enhanced coverage options include the recovery of funds in case of access loss.
ORE Vault is as easy to use as DocuSign. We designed ORE Vault to be easy to use from the start, ensuring a simple and seamless interface.
The notification system is completely automated as ORE Vault sends email alerts to notify team members when they need to sign transactions in the event of a requisite transaction.
“With enterprises and their staff handling complex operations on a day-to-day basis, their cryptocurrency wallet usage experience should be as smooth as butter. For companies, time is money, and dealing with crypto and blockchain should be a no-brainer. That’s how we intend it all to come together,” says AIKON founder and CEO, Marc Blinder.
Creation and Management Multiple Wallets
With ORE Vault, you and your team can create and manage multiple wallets for cryptocurrency assets across numerous blockchains. Some of the biggest and prominent blockchains like Ethereum, Algorand, and EOS support the ORE Vault crypto wallet.
Visibility and Transparency
ORE Vault is built to offer complete, unhindered visibility and transparency into the transfer of funds and balances. All members in your core team have full knowledge of where money is going and who has signed or not signed — making accounting and audits a breeze.
Everyone (with access) can see which cryptocurrency tokens are being moved, as well as the official who approved the transactions.
Enterprise Wallets Simply Must Be “Enterprise Grade”
ORE Vault has built-in segregation of permissions and usage policies for each department in your company. Therefore, ORE Vault makes it easy to process crypto transactions by eliminating the complexity of blockchain technology and positioning crypto as the future of money.
Are you ready to simplify and secure the way your company manages crypto funds?
Contact us to get started with ORE Vault today.
AIKON, a San Francisco-based VC-backed firm, was founded in 2017 to enable the digital asset economy and empower users from all over the globe by securing their personal information via blockchain.
AIKON has developed the Open Rights Exchange (ORE) protocols to manage access to digital rights and access, and has been enabling mainstream blockchain adoption with its ORE ID secure identity service and ORE Vault — shared wallet for teams. With its solutions, AIKON aims to foster a new era of secure identities that protects users and their data, powered by the blockchain. Follow us on Twitter or connect with us on Telegram!