Published Jul 7, 2022
By Qredo Team
What does Qredo do?
With the cryptoasset industry gradually making its way into the mainstream, more and more companies and individuals are looking for ways to securely custody their assets.
Qredo Network provides a new way for institutions and traders to store their assets without sacrificing control.
Using Qredo’s innovative decentralized Multi-Party Computation (MPC) encryption, users can custody their coins and interact with the wealth of the DeFi ecosystem through a secure, institutional-grade platform.
But we often get questions about what Qredo does and how Qredo works.
Here, we break down some of the key use cases of Qredo and how the network will revolutionize cryptoasset custody.
Secure Crypto Custody
Qredo solves one of the biggest problems in crypto by offering users a secure platform to custody their assets without having to give up control of their private keys.
Other custody providers such as exchanges are fundamentally centralized, so in the event of a bankruptcy or withdrawal halt, you would not be able to access your coins.
The fundamental vision of crypto is around user control of assets and true decentralization.
With Qredo’s industry-leading decentralized Multi-Party Computation security, users are able to safely store their assets on the network while retaining full control, minimizing the threat of theft, loss or unavailability.
That security is combined with institutional-grade governance, meaning teams with compliance obligations can implement custom controls to allow thorough vetting and reporting of all fund movements.
After all, #NotYourKeysNotYourCoins.
Better Digital Asset Governance
For institutions, having robust compliance and governance controls in place is fundamental.
This issue has prevented many institutions from getting involved in crypto to the extent they may have wanted, but Qredo addresses this problem by providing a suite of compliance and reporting tools to ease the path into DeFi.
With the ability to add multiple signatories to transactions, share trade data within the network and audit-ready reporting, Qredo users can seamlessly integrate their crypto activities into their pre-existing compliance structures.
Qredo has also built a bespoke solution to the FATF Travel Rule, which requires Virtual Asset Service Providers to report details of transactions and users.
The Travel Rule is an international anti-money laundering directive that requires all Virtual Asset Service Providers (VASPs) to share identifying information — including name, address, and national ID numbers — for the originators and beneficiaries of digital asset transfers.
Qredo is set to launch the first in-band Travel Rule Solution for regulated companies, enabling Virtual Asset Service Providers to more efficiently comply with the new rules.
Connecting Chains
Many parts of the crypto ecosystem are currently fractured, with users often facing challenges in moving assets securely across chains.
Using Qredo’s integration with MetaMask Institutional, investors can transact across the entire Ethereum Virtual Machine, with supported chains including:
Easy Access to Web3
Qredo has partnered with MetaMask Institutional, with the most popular crypto wallet interface, to offer a fully integrated means of accessing assets across the EVM and DeFi.
Millions of dollars in assets ranging from cryptocurrencies to NFTs are now stored and traded on the Qredo Network via MetaMask Institutional, giving access to opportunities such as yield farming, crypto staking, lending and trading.
To find out more about how professional investors use Qredo to access opportunities across DeFi, check out this case study with Singapore-headquartered digital asset fund FBG Capital.
Interested in finding out how Qredo can help you? Get in touch with the team and follow us on Twitter, Telegram and LinkedIn.