Digivault now supports BNB Chain
Digivault, a FCA-registered crypto custodian part of EQONEX Group (Nasdaq: EQOS), has announced support for the BNB Chain, allowing clients to hold assets like BNB and BUSD. This follows a strategic partnership with Binance Connect. Tom Griffiths, Chief Compliance Officer, emphasized the importance of a thorough asset assessment process to protect consumers. BNB Chain has gained traction due to low gas fees and reduced congestion compared to Ethereum. CEO Rob Copper expressed excitement about the future integration of BNB Chain into Digivault's offerings.
- Addition of BNB Chain expands asset offerings for clients.
- Strategic partnership with Binance Connect enhances operational capabilities.
- Increased demand for BNB Chain due to its low fees and reduced congestion.
- None.
LONDON, Aug. 19, 2022 /PRNewswire/ -- FCA-registered crypto custodian Digivault, part of the EQONEX Group (Nasdaq: EQOS) has added support for BNB Chain enabling clients to now hold assets running on BNB Chain, including BNB, BUSD & BEP20 tokens, in their Digivault accounts.
This follows the announcement earlier this year by Digivault's parent company, EQONEX Limited, that it had entered into a strategic partnership with Binance Connect (Bifinity UAB), a payments technology company that is part of the Binance Group.
The introduction of BNB Chain is the latest in a long line of additions that Digivault has added support for in 2022. Each asset is subject to a thorough due diligence process prior to being approved for custody to ensure that Digivault holds only high-quality digital assets.
Tom Griffiths, Digivault's Chief Compliance Officer, explains: "It is fundamental that all assets go through a thorough Asset Assessment to assure that as a Financial Conduct Authority Anti Money Laundering (FCA AML) registered business, we are doing all that we can to protect the consumer. A robust due diligence process is just one aspect of why clients seek to work with FCA-registered custodians."
BNB Chain has seen immense traction since launch, in part due to its low gas fees which is in stark contrast to the Ethereum network's sky rocketing gas prices, and in part due to BNB Chain's reduced network congestion, another issue with the Ethereum network during peak periods.
Rob Copper, CEO of Digivault, says: "We have been working closely with the Binance Connect / Bifinity team since our strategic partnership was announced and are thrilled to add BNB Chain to our portfolio of assets that we support. I am excited at what the next 12 months will bring and am positive that BNB Chain will play a central role."
About Digivault
Digivault provides digital asset custody that integrates physical and virtual security, giving institutions tangible solutions in a rapidly evolving world. We deliver a powerful custodian that combines multiple layers of protection, eliminating the need for trust in a single person or group of people. As part of a Nasdaq-listed company, we are accountable to the SEC, meaning increased regulation. However, we eliminate the need for trust through our processes and technology, providing our clients with peace of mind.
Digivault is part of the EQONEX Group. EQONEX Limited (NASDAQ: EQOS) is a technology driven digital assets financial services group that provides institutional grade infrastructure, custody and asset management solutions to clients. The Group's digital assets ecosystem has been designed to accommodate the needs of institutions and individuals with the same degree of regulatory oversight and security they are accustomed to in traditional financial markets. primarily encompasses Digivault, and Asset Management.
For more information visit: www.digivault.com. Follow Digivault on social media on Twitter @DigivaultGlobal, and on LinkedIn.
Forward-Looking Information
Any forward-looking statements in this press release are based on available current market material and management's expectations, beliefs and forecasts concerning future events impacting EQONEX. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of EQONEX to differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements made in this press release speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.
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SOURCE Digivault
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