Cactus Custody supports Klaytn and becomes its first NFT custodian

Cactus Custody™, an institutional-grade custodian brand backed by Matrixport, has announced support for the Klaytn ecosystem. Cactus Custody™ will become the first institutional grade custodian to provide Warm & Cold NFT storage solutions for Klaytn-based NFTs.

Cactus Custody™ supports Klaytn’s mission by providing not only cutting-edge custodial services for KLAY, KCTs, and NFTs but also best-in-class DeFi & NFT project accessibility via the DeFi Connector. Through the collaboration, Cactus Custody™ will become the first institutional-grade custodian for Klaytn NFT holders to interact with the rapidly expanding Klaytn Web3 & metaverse ecosystem as well as safeguard their NFTs. Since NFTs are a key component of the metaverse in Web3, this is an important step forward in developing our metaverse initiatives.

David Shin, Head of Global Adoption at  Klaytn Foundation, said, “We warmly welcome Cactus Custody into the Klaytn ecosystem. Their advanced risk management features will afford institutional investors  more control over how they want to protect their Klaytn-based digital assets.”

With Klaytn now supported, clients of Cactus Custody™ are now able to enjoy unprecedented access to the relevant DApps and tokens across 9 EVM chains: Klaytn, Ethereum, Arbitrum, Avalanche, Fantom, Polygon, Binance Smart, Heco, and Smart Bitcoin Cash, while they can rest assured with the custodian’s best-in-class security.

About Cactus Custody  

Cactus Custody™ is a third-party institutional grade custody service whose mission is to provide the digital era with secure, transparent, and efficient institutional custodian services. Using cutting-edge system security design and infrastructure coupled with comprehensive enterprise-grade financial management functions, it supports clients to scale securely through its institutional security and advanced enterprise cryptocurrency management system for storage, trading, DeFi, earning and more. Cactus Custody™currently supports 100+ major digital assets and NFTs on more than 24+ blockchains and has plans to continue expanding the list of supported digital assets by the platform.

With Cactus Custody™’s solutions, institutions can now segregate and control the user access rights for each individual in their organisation to prevent fraud. The industry-leading custody service also has in-built risk management features such as whitelisting of DApp smart contracts which prevents an un-approved protocol / DApp when interacting with the wallets held with Cactus. This effectively reduces the susceptibility to hacks or phishing attacks. With the protocol, only approved DeFi, GameFi, SocialFi and Web3 Protocols can interact with the wallets.

Some of the world’s largest and most renowned mining companies, mining pools, cloud mining platforms, exchanges, funds and OTC dealers are clients of Cactus Custody™. Cactus Custody™ will continue to facilitate greater institutional adoption for new blockchain and tokens.