Digital Asset Custody Company Announces Escrow Product Public Launch
Escrow service mitigates risk in OTC and peer-to-peer transactions for DACC customers
SECAUCUS, N.J., January 24, 2019 (Newswire.com) - Digital Asset Custody Company, a leading custody solution purpose-built for institutional investors and token issuers, today announced that it has expanded its product offering to include escrow services. The escrow product was delivered last year and utilized by selected customers as part of DACC's product innovation and is now available to all customers.
It is the nature of peer-to-peer and OTC transactions that counterparties must often trust one another. Risk of non-delivery on large transactions can be prohibitive. Customers can mitigate that risk by using DACC as a trusted intermediary. DACC can confirm the assets’ existence prior to execution and can segregate and lock them until the trade is confirmed. Upon confirmation, DACC releases the assets to the designated party.
“Escrow allows OTC brokers and others making large peer-to-peer transactions to reduce the risk of non-delivery by using DACC as a trusted intermediary,” said Doug Schwenk, Co-Founder and Chairman of Digital Asset Custody Company. “We’re proud to offer this important product innovation to our institutional customers.”
About Digital Asset Custody Company
Digital Asset Custody Company, or DACC, is a purpose-built custodian to safeguard digital assets for institutions. DACC's SOC 1 certified custody service was built from the ground-up to secure digital assets on behalf of institutional customers. With its proprietary Enclave wallet technology, DACC can custody over 100 cryptocurrencies and 14 blockchains, rapidly and securely egress digital assets from air-gapped cold storage, and provide clients with 24/7 physical and digital security to safeguard their assets. DACC's senior management team is comprised of serial fintech entrepreneurs, prime brokerage executives, hedge fund and government agency security experts, which provides the required experience and expertise to build extensive and secure technology and compliance systems for its customers.
For additional information, please visit https://digitalassetcustody.com/.
Contact
John Conneely
VP of Institutional Sales & Partnerships
Digital Asset Custody Company
[email protected]
+1 201-479-3227
Source: Digital Asset Custody Company
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Tags: crypto, digital assets, escrow, financial services, fintech
