Trustology Gets Fully Registered as Crypto Asset Firm

 With UK’s FCA, Focuses on Next Chapter in DeFi

LONDON, Oct. 05, 2021 (GLOBE NEWSWIRE) — Leading DeFi institutional crypto custodian wallet provider Trustology has today announced it has received its full registration as a crypto assets firm with the UK’s Financial Conduct Authority. They are amongst a handful of companies registered thus far with the FCA, able to fully carry out cryptoassets activities in the UK market, marking a significant milestone of trust for the company and its TrustVault custodial wallet platform.

“We’re overjoyed by the approval. We’ve been fully supportive and cooperative with the FCA during the registration process, and we’re pleased to see that our solution meets with the highest standards of regulatory compliance for delivering real-time services to interact with centralised finance platforms (CeFi) and decentralised finance (DeFi) protocols,” says Trustology Founder and CEO Alex Batlin.

Since its inception in 2017, Trustology has focused on making it safer, faster and easier for institutions to safeguard and administer crypto assets on-chain and on-exchange in real-time. They have been at the forefront of innovating in the DeFi ecosystem for over two years now with solutions centered around security, utility and access in real-time. The company offers bespoke and unrivalled services such as a DeFi Firewall technology, compliance webhooks, WalletConnect and MetaMask integrations, and is working on additional support for Ethereum compatible Layer 1 and 2 networks such as Avalanche, Polygon, Optimism, etc.

With the FCA approval now in hand, Trustology plans on continuing its efforts in institutional DeFi, where total locked value has now exceeded $80B and demand is high. However, DeFi smart contracts and DApps are becoming increasingly complex and prone to malicious attacks, leaving institutions faced with higher security risk. From proxy contracts to allow for upgradeability, to multi-send contracts that allow for the batching of transactions, there is a rapid evolution of features that allow for the movement of assets.

Trustology will help to mitigate these security risks by enabling easier compliance and more control through user-friendly, human-readable information about all outbound transactions, obtained by custom transaction decoders and simulators, before they are signed and submitted to the blockchain. This will allow customers to see details for:

  1. the method called by a smart contract, eg swap, send or mint, as well as the protocols and asset types involved before they approve the transaction; and,
  2. the final destination for their funds to ensure assets are not routed to suspicious addresses

“It’s this level of transaction insight and granularity we’re seeing more demand for by institutions wanting enhanced security and better compliance in DeFi,” notes Batlin.

Press Contact:

Mia Mohamed

Trustology

Mobile/What’s app: +44  75 0010 5815

About Trustology

London-based Trustology is focused on developing solutions to help institutional, corporate and private clients safeguard and administer cryptoassets in a safer, faster and easier way on-chain, on-DeFi, and on-exchange. Founded in 2017 by Alex Batlin and a team of experts in global banking and technology, Trustology is backed by ConsenSys, a global blockchain company, and Two Sigma Ventures, an early-stage venture capital fund of Two Sigma.

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

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