What’s Next for Crypto Acquisitions and Platforms Like Unido
There have been many recent incursions into the blockchain and cryptocurrency space by household names in the general fintech and financial services industries. A particularly relevant example is PayPal’s acquisition of crypto security firm Curv.
The payment service giant made headlines a few months ago with the launch of its feature for buying cryptocurrency. Now, it seems to be doubling down on the new technology by investing in core infrastructure. This would allow it to expand into crypto banking and finance, and provide users with ways to hold these assets with them as well.
The acquisition alludes to two things: there is growing demand for cryptocurrency platforms and there is a need for the acquisition of nimble, crypto-focused companies by giant firms who are just now embracing the new technology. Specifically, there’s a need for the right security. Services like PayPal urgently need crypto-specific solutions for this because their platforms become “honeypots” for hackers and bad actors as more money continues to pour in. This means PayPal’s move to buy a crypto security firm will certainly not be the last of its kind.
Unido already provides the services these large companies seek to offer and more. In terms of security, many of the cutting-edge developments have centered around multi-party computation. The proprietary implementation of this technology on Unido Core works by dividing cryptocurrency private keys into portions and distributing them amongst multiple owners of the crypto wallet.
This type of security mechanism is an ideal solution for the investors, asset managers, and companies who are joining the space. It makes it harder for bad actors to steal the keys and for members of the organization to lose them. The tool can be used for governance purposes as well by granting different levels of access and usage rights to users within the company.
Unido also takes things a step further. On the Unido Enterprise Platform, holders use a central dashboard where they can access crypto banking services for payment and transfer of digital assets and, more importantly, a DeFi Vault. This feature allows idle funds to be allocated into yield-generating DeFi protocols that produce passive income.
These DeFi integrations are an addition that institutional investors are sure to appreciate since it combines Unido’s advanced security with easy access to the burgeoning space of decentralized finance. Here, holders don’t just access and manage cryptocurrencies securely, but also invest these assets. These kinds of bundled solutions often provide the edge companies like PayPal need in order to compete in a fast-growing new space like the blockchain and cryptocurrency industry.
Unido is an enterprise platform for decentralized capital markets. It enables institutions & corporate clients to securely store, manage and invest their crypto assets into decentralized finance networks. Unido is underpinned by proprietary key signing technology that provides enterprise-grade security for any transaction which utilizes it.
Founded in 2017 and with a market-ready product, Unido is led by an experienced team of ex-Goldman Sachs, ex-Macquarie and ex-Wipro with decades of experience in enterprise software development, financial services and agency blockchain development.