Digital Asset Custody Company Announces Secure Custody Solution for Stablecoin USDC
DACC support extended to Circle's newly approved cryptocurrency backed by U.S. dollar
SECAUCUS, N.J., Oct. 10, 2018 /PRNewswire/ -- Digital Asset Custody Company ("DACC"), a leading custody solution purpose-built for institutional investors holding digital assets, today announced a custody solution for the stablecoin USD Coin ("USDC"). The U.S. dollar-backed cryptocurrency, available via the Boston-based finance firm Circle as of September 26, is traded on Poloniex, Circle's cryptocurrency exchange.
"With stablecoins quickly gaining popularity and meeting investors' needs for financial and operational transparency in cryptocurrencies, we are proud to offer a custody solution to those who hold Circle's USDC," said Matthew Johnson, Co-Founder and Chief Product Officer at DACC.
DACC offers custody solutions for more than 90 cryptocurrencies and 12 blockchains to a range of institutions including hedge funds, private equity firms, family offices, sovereign wealth funds and token issuers. As the industry expands and adjusts to market demand, DACC continues to create custody solutions for the tokens with large market capitalizations and high investor interest.
"We appreciate the hard work DACC has put in to develop a custody solution for USDC, and managing to do so within days of our release," said Joao Reginatto, Head of Product for USDC. "USDC has already received impressive interest and investment in its first week on the market, and we're happy that investors have a trusted custody solution to safeguard their USDC assets."
Stablecoins are cryptocurrencies pegged to the value of a "stable" financial asset, such as a fiat currency or commodity like gold. In addition to USDC, DACC expects to begin offering coverage for additional stablecoins in the near future, and now also offers a custody solution for Tether ("USDT"), a widely held stablecoin.
DACC provides wide-ranging blockchain and token support, rapid and secure egress from cold storage, and beyond enterprise-grade cyber and physical security designed by a senior management team comprised of investment manager executives, skilled hedge fund operations personnel and government agency information security officers.
"Our main mission is to serve the institutional investment market with support for any digital asset or token," added Doug Schwenk, Co-Founder and Chairman of DACC. "By introducing a custody solution for USDC, we are able to support the development of stablecoins while bringing greater confidence to investors."
About Digital Asset Custody Company
Digital Asset Custody Company, or DACC, is a custody solution purpose-built for institutional and alternative managers invested in the cryptocurrency and token space. Our SOC 1 certified custody service was built from the ground-up to secure digital assets on behalf of institutional clients. With its proprietary technology, DACC is able to custody over 90 cryptocurrencies and 12 blockchains, rapidly and securely egress digital assets from air-gapped cold storage, and provide clients with superior, 24/7 physical and digital security to safeguard their assets. Our team of former investment executives, skilled hedge fund operations personnel and government agency information security officers provides extensive technology, investing and security experience, and has built compliance systems used every day by major asset managers.
For additional information, please visit https://digitalassetcustody.com/
Contact
Ryan Dicovitsky/Zoe PiSierra
Dukas Linden Public Relations
212-704-7385
[email protected]
Michael Fitzgerald
Chief Executive Officer
Digital Asset Custody Company
[email protected]
201-479-3227
SOURCE Digital Asset Custody Company
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