New York, New York, December 18th, 2024,
Chainwire
Cordial Systems, a leading provider of
institutional-grade self-hosted wallets, has deployed its Cordial
Treasury product at SwissBorg, a regulated
crypto exchange based in Switzerland with billions of dollars in
customer deposits.
As a leading crypto exchange, SwissBorg offers 16 fiat
currencies, providing Europe with the widest onramp to the crypto
market. When it comes to buying, selling, and trading
cryptocurrencies, SwissBorg also wants to offer a wide universe of
investment options. The Cordial Treasury product, with over 40
supported blockchains and all the tokens on top, was a natural
choice for supporting the business with its extensive list of
cryptocurrencies.
New Asset Support
Not just for today, but also for tomorrow. SwissBorg has a
mission to democratize wealth management, that includes offering
new investment opportunities as new cryptocurrencies launch in the
future. With Cordial Treasury, any blockchain can be added in 1-2
weeks by the Cordial Systems team, a protocol foundation, or a
customer-side developer using Cordial’s open-source Crosschain library to enable secure storage and
staking for yield capabilities. This unlocks a lot of efficiencies
for SwissBorg when it comes to its coin listing program.
Significantly reducing the implementation time, and increasing the
ability to act on new revenue opportunities quickly.
“Cordial helped to scale our asset support, and
comfortably proved their ability to add new blockchains in 1 week;
it was more like 2 days in the case of the Enjin blockchain.” -
Nicolas Rémond, CTO, SwissBorg
“We are delighted to work with SwissBorg. They
epitomise what it is to be a successful crypto exchange, while
continuing to innovate and take an exemplary approach to securing
their customer assets. Cordial looks forward to working with
SwissBorg further and is the latest household name in the growing
number of exchanges that we work with.” - Nicolas Stalder, CEO,
Cordial Systems
Deployment model
SwissBorg also follows a strict framework for securing customer
assets which is informed by their various regulatory licenses and
their high security posture. Cordial Treasury is unique in its
ability to offer industry-standard MPC wallets in a self-hosted
manner while following a Zero Trust security model. Meaning,
SwissBorg controls all security-critical elements in their
corporate network on their dedicated infrastructure. Everything
from key shares to policies, and the server running the software -
which has also been co-deployed with Kiln for further
operational resilience.
With SwissBorg in complete control of their setup, Cordial
Systems is only responsible for code maintenance and some small
microservices that enhance the product but are not
security-critical. This is more palatable to large organizations
that have historically been faced with service providers proving to
be a heavy third-party dependency and that operate as a black
box.
“Being in control of all security elements and service
availability is a huge advantage for us in working with Cordial. We
also have a great solution now for the dreaded question: “what if
my provider disappears tomorrow”, our business continuity planning
couldn’t be stronger.” - Nicolas Rémond, CTO,
SwissBorg
About Cordial Systems
Cordial Systems provides institutional-grade
self-custody wallets utilizing a zero-trust security model. Through
the Cordial Treasury product, institutions can store and stake
digital assets across 40 different supported blockchains and easily
add more. Only Cordial can empower financial institutions with a
high-security posture to own and control the entire wallet solution
and minimize vendor-side dependencies. Ensuring the highest levels
of confidence when it comes to managing the security, data, and
workflows of their digital asset operations while keeping up with
an ever-evolving asset class.
About SwissBorg
SwissBorg is the leading community-driven crypto
wealth management platform, engineered in Switzerland and licensed
in the EU. Committed to trust and transparency, SwissBorg is on a
mission to democratize the future of finance for everyone. At its
core is the groundbreaking Smart Engine, which seamlessly connects
to centralized and decentralized exchanges to secure liquidity and
prices for users. Beyond trading, SwissBorg offers curated yield
strategies through decentralized finance (DeFi) and empowers users
to access early Web3 opportunities through its Alpha Pre-Sales and
BorgPad launchpad. Swissborgs' token, BORG, sits at the heart of
their ecosystem providing a multitude of benefits to its
holders.
About Kiln
Kiln is the leading digital asset rewards management
platform, enabling businesses to earn rewards on their digital
assets, or to whitelabel earning functionality into their products.
Our platform is API-first and enables fully automated validators,
rewards, and data and commission management. With over $13 billion
in crypto assets being programmatically staked, Kiln has a
particularly strong track record on Ethereum as we run about 4.3%
of the network; this includes 50,000+ active validators with 0
slashing events. Kiln is SOC2 Type 2 compliant.
Media Contact
Sebastian Higgs, Cordial Systems, (302) 310-4522,
pr@cordialsystems.com
Daniel Stokes, SwissBorg, daniel.stokes@swissborg.com
Contact
COO
Sebastian
Higgs
Cordial
Systems
pr@cordialsystems.com