Onchain Custodian onboards first customers

Onchain Custodian (ONC), a digital asset custodian backed by Sequoia, Fosun and DHVC, has on-boarded its first customers.

Headquartered in Singapore, Onchain Custodian has developed a personalised 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 is flexibly built to meet the possible futures of digital asset custody.

Onchain Custodian’s launch event took place at the Mandarin Oriental Singapore on 11 April during the Asia Pacific Blockchain New Finance Summit. The event attracted VIP guests from all over the world, from Canada to China. Some announced their plans to use Onchain Custodian’s services. 

In addition to the Ontology Foundation, which two weeks ago announced publicly 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. 

Pak Lum MOCK, Managing Partner at Tembusu Partners, says: “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.” 

Jian SUN, Founder of JLAB | JD Capital, says: “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 institutional investments; independent third-party custody.”

Sandy Peng, Partner of Fission Capital, says: “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.”

During its launch event, Onchain Custodian also announced important partnerships with channel partners such as Infinito who will help promote ONC’s services, but also industry groups. 

Alexandre Kech, CEO ONC, says: “Best practices around digital asset custody are critical to the future of this industry. 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.”

Additional partnerships includes Accuity, the renowned compliance platform provider that ONC will use for its KYC and AML/CFT compliance process, and Polymath, a Securities Token platform which will refer Onchain Custodian as one of its custodian service providers. 

Polymath’s Thomas Borrel, says: "Reputable custodians are a critical component in the security token issuance journey, especially as institutions look for new and innovative way to generate growth. We are thrilled to partner with Onchain Custodian to provide our Asia-based Issuers with a secure and dependable custody solution."

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