By Daniel Webster, dWeb.News Publisher
Propine is Singapore’s first independent MAS-licensed digital asset custodian. This partnership will provide institutional-grade, on-chain custody for XDC Network. XinFin (XDC) is a Singapore-based hybrid Blockchain platform that has a highly scalable, secure Blockchain architecture.
This partnership will enable the XDC ecosystem access to institutional-grade security, fully compliant and insured custody services, as well as layered governance and security procedures that ensure safe delivery and maintenance. Propine developed the software solution, and integrated it into XinFin for the benefit of the blockchain users.
Propine offers institutional and accredited investors a range of asset servicing and custodial solutions. These solutions protect digital assets using segregated blockchain wallets. They also allow trading through integrations or partnerships and provide a variety of corporate action distributions to any type of capital market product.
Tuhina Singh (CEO and Co-Founder) of Propine said: We are thrilled about our alliance to XinFin a Blockchain designed to address challenges in international trade financing tokenization. In order to combine the best of both the public and private blockchains, they have created .
Our primary concern as a custodian is to ensure the safety of cryptocurrency and tokenized digital assets such NFT. She continued, “With the growing institutional demand for more security, ease-of-use, and compliance,” we are continually challenging ourselves to improve our infrastructure so that it can bridge the gap between different Blockchain ecosystems and allow clients to take advantage of our blockchain-agnostic custody service.
According to the regulations of MAS, insurance covers digital assets stored in Propines ProTectTM digital custody platform.
Ritesh Kakkad is co-founder of XinFin XDC Network. He said that this Integration brings together the best in regulated Traditional institutional product expertise and the tokenized ecosystem. We see this as the next step towards the development of the digital/tokenized assets eco-system being built on the XDC Network .
Established in 2018, Propine is the first and only licensed digital asset custody service provider holding a CMS licence by MAS and an ISO 27001 certification. All digital asset custody requirements can be met by Propine, including stable coins, fiat, NFTs, digital securities and cryptocurrencies.
Propine also offers end-to-end digital securities services, starting from tokenization and issuance support, to custodial services, and post-trade activities.
Further information on Propine can be found at http://www.propine.com. Follow Propine on LinkedIn and Telegram.
About XinFin XDC Network
The XDC Network, created by XinFinis, is a global open-source, delegated, proof of stake consensus network (XDPoS) that enables hybrid relay bridges and instant block finality. It also allows interoperability to ISO financial messaging standard. The network’s hybrid architecture was created to support institutional use of trade finance and tokenization. It is also equipped to close the global finance gap. With interoperable smart contracts, 2,000 transactions per-second, and Ethereum Virtual Machine compatibility, the XDC Network provides a scalable infrastructure for enterprises and independent community contributors.
Visit http://www.xinfin.org for more information on XinFin or the XDC Network. Follow XinFin Twitter.
Director, Marketing and Partnerships
E: ian.fong ( @ ) propine dot com
P: +44 7915 745732 (UK) / +65 9673 0259 (SG)
E: leila.nukusheva ( @ ) propine dot com
P: +60 11-6069 1505
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