ChainUp Custody, a leading provider of digital asset custody solutions, has solidified its commitment to the Bitcoin Layer 2 (L2) ecosystem through a series of strategic partnerships with prominent projects, including B² Network, Babylon, Merlin Chain, and exSat Network. These alliances reflect ChainUp Custody’s consolidated effort to drive security, scalability, and innovation across the Bitcoin network.
As the Bitcoin ecosystem evolves, L2 solutions and staking ecosystems are capturing industry attention, offering new avenues for enhanced transaction speeds and scalability. ChainUp Custody’s latest developments strategically position the company to support this growth, providing cutting-edge custodial services and technological infrastructure for a diverse array of Bitcoin L2 projects.
The partnerships, aimed at enhancing the infrastructure of the Bitcoin L2 ecosystem, leverage ChainUp Custody’s advanced multi-party computation (MPC) technology to provide top-tier security and regulatory compliance for institutional clients. Through its partnerships with key L2 projects, ChainUp Custody enables institutional clients to protect and enhance the security of their end-users’ Bitcoin assets in a rapidly advancing digital landscape. This collaborative approach bolsters asset safety for Bitcoin holders, contributing to a stronger and more scalable ecosystem.
Key Partnerships Driving the Bitcoin L2 Ecosystem
To support the growing Bitcoin L2 and staking space, ChainUp Custody has partnered with prominent projects, ensuring users have access to reliable, secure, and compliant asset management services.
-
B² Network: ChainUp Custody collaborates with B² Network, a major participant in the Bitcoin L2 space, by implementing MPC technology to boost transaction security and ensure efficient fund protection.
-
Babylon: Through Babylon’s unique Proof of Stake (PoS) mechanism in Bitcoin, ChainUp Custody introduces an innovative Bitcoin staking option for institutional clients, making it easier for users to participate in Babylon’s BTC staking projects while also expanding Babylon’s reach.
-
Merlin Chain: ChainUp Custody fully supports Merlin Chain, integrating it into the ChainUp MPC wallet, which allows seamless management of various assets, including BTC and BRC20 tokens.
-
exSat Network: In collaboration with exSat Network, ChainUp Custody provides secure custody for XSAT tokens, reinforcing the security of exSat’s groundbreaking Bitcoin scalability solution.
ChainUp Custody also supports the development of additional L2 solutions, such as Core Dao and BounceBit, to further diversify asset management options and contribute to a stronger, more resilient Bitcoin ecosystem.
Triple-Layer Security for Unmatched Crypto Asset Protection
ChainUp Custody advanced MPC technology offers a fortified security framework for digital asset management, combining distributed storage and multi-party authorization to eliminate single-point failure risks virtually. This triple-layer protection guarantees institutional-grade security for clients. Key security features include:
-
MPC 3-3 Threshold Signatures: ChainUp’s MPC solution employs a 3-3 threshold signature scheme, storing private keys in shards requiring multiple-party authorization, eliminating single-point failure risks.
-
Multi-Party Authorization Mechanism: Strict authorization procedures ensure that each transaction requires joint authorization, effectively preventing unauthorized fund operations and internal fraud.
-
Comprehensive Security: In addition to MPC and multi-party authorization, ChainUp Custody includes multi-signature verification, HSM (hardware security modules), and cold wallets for all-around asset protection, plus AML functions to meet regulatory compliance.
Continued Innovation in Digital Asset Custody
With the sustained growth of the Bitcoin ecosystem and increasing institutional interest in Bitcoin staking, ChainUp Custody’s expansion into Bitcoin L2 and staking projects reaffirms its dedication to innovation in digital asset custody.
The company plans to extend its support to additional high-impact, industry-disruptive projects, focusing on secure, compliant, and scalable solutions for digital asset servicing.
About ChainUp Custody
ChainUp Custody is a top digital asset custody provider committed to delivering secure and compliant storage solutions for institutional clients. Leveraging advanced security technologies and regulatory compliance, ChainUp Custody empowers institutions to manage digital assets efficiently, fostering growth in digital asset investment.
