Digital Asset Exchange Archax Partners With Unbound for Data Protection

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Unbound Tech

Digital Asset Exchange Archax Partners With Unbound for Data Protection

July 11, 2019

unboundLondon-based institutional digital securities exchange, Archax, is set to launch its own digital asset custody service in partnership with Unbound Tech while awaiting for an MTF license from the UK Financial Conduct Authority.

Unbound, which is backed by top names including Goldman Sachs and Citi Ventures, operates its Distributed Trust Platform to protect data, such as cryptographic keys, credentials or private information, by ensuring it never exists in complete form as it negates the need for hardware wallets.

Its software uses Multi-Party Computation mathematics to split cryptographic keys into parts that are never again united, completely eliminating the single point of compromise for the most sensitive of assets.

Graham Rodford, CEO of Archax, commented:

“As a digital asset exchange targeted at institutions, it was vital that we could offer the very best and most secure solution for storing clients’ wallets and keys. Unlike most crypto venues, our custody
service is totally segregated from the Archax exchange, and this, coupled with the unrivalled capabilities of Unbound’s technology, means we can offer exactly what institutions need. We did an extensive evaluation of the custody partners that were suitable for us and Unbound met all our requirements and more.”

Yehuda Lindell, CEO of Unbound Tech, said:

“Our Digital Asset Protection Platform provides an innovative approach to protecting digital assets by creating and using fragmented private keys without ever unifying them, delivering both security and speed for seamless customer experience. This platform is being used by the world’s largest exchanges, protecting transactions in billions of dollars every day. Archax, with its institutional focus and plans to bridge the traditional and digital asset worlds, is an ideal partner to expand our market reach. We look forward to working with Archax whilst their product evolves.”

The ambitious project of Archax includes a digital asset custody service and a multilateral trading facility (MTF) as well as a digital asset exchange. The firm has put applied for an MTF license in the UK, which is currently being considered by the FCA. The institutional-focused operator is set to launch later this year, which is when it will announce its very own Security Token Offering (STO),
where it will tokenize and offer for sale a portion of its own equity.

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