Following a successful launch, Onchain Custodian, the digital asset custodian backed by Sequoia, Fosun and DHVC, has announced the on-boarding of its first customers and the establishment of several partnerships. Headquartered in Singapore, ONC said it had developed a personalized and comprehensive custody service for institutional players and accredited investors to secure digital assets with institutional grade security and controls, the SAFE™ Digital Asset Custody Platform.
Onchain Custodian’s launch event took place at the Mandarin Oriental Singapore on the 11th of April during the Asia Pacific Blockchain New Finance Summit. The event attracted guests from all over the world, from Canada to China, and some used the occasion to announcetheir plans to use Onchain Custodian’s services.
On top of the Ontology Foundation, which announced two weeks ago its use of the service, Tembusu Partners, Pre Angel, JLAB | JD Capital, Fission Capital, Frees Fund, Timestamp Capital, Milestone, among seven others, will start the on-boarding process with Onchain Custodian in the coming weeks, according to the custodian.
“As a leading private equity firm with deep roots in Emerging Asia, Tembusu holds digital asset investments that we want to be safe and properly managed. We trust that Onchain Custodian, with its strong Asia Pacific footprint, will offer us the personalised service we are looking for,” said Pak Lum MOCK, Managing Partner, Tembusu Partners.
Industry groups have focused on safekeeping in their best practice guidelines. “Onchain Custodian’s founders and backers are a strong testimonial of the seriousness of the project. By safekeeping our digital assets with ONC, we are following the best practice that should prevail for any institution.l investments: independent third-party custody,” said Jian SUN, Founder, JLAB | JD Capital:
Sandy Peng, Partner, Fission Capital, warned that digital asset investments are tricky to manage in view of the current diversity of blockchain and token protocols. “Having the secure single window access to blockchains that Onchain Custodian offers will help us manage our investments,” Peng said.
During its launch event, Onchain Custodian also announced partnerships with channel partners such as Infinito, who will help promote ONC’s services, and also industry groups. “Best practices around digital asset custody are critical to the future of this industry,” said Alexandre Kech, CEO, ONC. “We are committed to work with customers but also associations like the Distributed Regtech Collaboration Platform, the Malaysia Blockchain Association or the Digital Exchange Association to build the global standard for digital asset custody.”
According to a company statement, additional partnerships includes Accuity, the compliance platform provider that ONC will use for KYC and AML/CFT compliance, and Polymath, a globally known Securities Token platform which will refer Onchain Custodian as one of its custodian service providers. “Reputable custodians are a critical component in the security token issuance journey, especially as institutions look for new and innovative way to generate growth,” said Polymath’s Thomas Borrel.