Zilliqa chooses Onchain Custodian to secure its assets

Zilliqa has partnered with Onchain Custodian in order to enhance the security of its users asset holdings on its platform.

By · Jul 31, 2020 . 4min read

Zilliqa Onchain logo

Zilliqa has announced that it has chosen Onchain Custodian to secure its networks assets. The high-performance and high-security platform has partnered with the Singapore based firm for its ZIL and ZRC-2 tokens.

Onchain Custodian will begin by providing support for Zilliqa’s stablecoin XSGD. The Singapore dollar backs it. Xfers, a leading fintech payments platform, was instrumental in launching XSGD.

CEO of Onchain Custodian Alexandre Kech stated,

“With new financial instruments emerging out of the blockchain space, better infrastructures need to be built with clients’ needs in mind. Beyond demands for greater security, our goal is also to bridge the gap between different project ecosystems, enabling clients to benefit from our token agnostic custody services while serving as a reliable liquidity partner. As one of the leading blockchain projects in the region, we are thrilled to be partnering with Zilliqa at this time to bring greater security and compliance assurances across their ecosystem.”

Onchain Custodian’s SAFE Digital Asset Custody Platform is one of the safest platforms available. Moreover, IBM’s FIPS 140-2 Level 4 Hardware Security Modules are what the platform runs on. Lloyds of London underwriters ensures the platform as well.

The XSGD stablecoin maintains its value in line with the Singapore dollar. Therefore, it is easy to trade and is possible 24/7. It is a part of Xfers’ StraitsX initiative which offers a range of stablecoins backed by various South-east Asian currencies. Moreover, Zilliqa has announced earlier this month that it would be working with Binance and Switcheo Exchange. It aims to bring the BUSD stablecoin to its platform by the 4th quarter of 2020. The US dollar backs BUSD.

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