Crypto custody and security technology provider Vaultavo has launched a crypto custody solution based on biometric smart cards. Vaultavo is a fintech startup focused on developing a crypto custody solution to support the adoption of digital currencies by institutions and their clients.

This new patent-pending crypto custody solution relies on a biometric digital asset custody smart card as well as proprietary vaults, a secure SaaS digital platform, and access portals with the aim of changing the way customers view custody. The integrated hardware and software solution was designed to protect digital assets by creating and managing the blockchain private key on the Vaultavo Card, which incorporates bank-grade security according to the official press release. The product offers a decentralised approach to security that was inspired by cryptocurrencies, Web3 and DeFi.

A closer look at the Vaultavo Card What makes the Vaultavo Card stand out when compared to similar offerings is that it has an EAL7 security certification. This represents the secure element of the solution, its foundation if you will. EAL 7 certifications apply to the development of security targets of evaluation for application in extremely high-risk situations, as well as when the high value of the assets justifies the higher costs.

The card has the same size and thickness as a regular bank card, but it also includes a built-in biometric reader, as well as an E Ink display, a rechargeable battery, a Bluetooth chip, as well as NFC and USBC connectivity capabilities. The press release further details that the card was created to support the expansion of crypto by addressing the issues of digital asset protection and online trading vulnerability. According to blockchain data provider Chainalysis, illicit transaction volume rose for the second consecutive year in 2022, hitting an all-time high of USD 20.

1 billion. Vaultavo’s protected IP technology can be configured in order to allow multiple custody and self-custody configurations, as well as multiple use cases: Commercial banks, central banks, family offices and other businesses managing their own crypto portfolios. Individual clients’ digital assets held by commercial banks or other institutions under segregated private keys.

Stand-alone self-custody for the retail market. Commercial banks and other institutions providing self-custody to their customers. Revix, a Cape Town, South Africa cryptocurrency investment platform is the first company to leverage Vaultavo’s new security solution.

Company representatives highlighted how Vaultavo is giving users the ability to self-custody their cryptocurrency without losing control of their assets, which is in line with Revix’s vision of allowing their customers to use crypto for real-world everyday purchases. .