Binance Custody now supports IOST

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Binance Custody now supports IOST. With this, IOST joins the exclusive list of supported tokens in the secure, regulated, and insured custody service for the safekeeping of virtual assets services for institutional clients provided by Binance UAB, a Lithuanian-registered entity.

From now on, large institutions will be able to securely invest in IOST and use the Binance custody service to deposit IOST tokens safely. This is an essential step for IOST to partner with institutional investors, as the current Binance Custody platform is an institutional-grade virtual asset custody service specially designed to cater to corporate needs with a minimum €1,000,000 asset under custody requirement.

What does Binance Custody provide?

Binance Custody launched its cold storage insurance this year, which protects cryptocurrencies held in cold storage from dangers such as theft, hacks, and even in the event that someone loses a password. Additionally, Binance Custody includes support for approximately 500 different digital assets.

Backed by a sophisticated infrastructure that serves as the foundation of its platform, Binance Custody provides secure storage of digital assets through its Qualified Wallet solution. Future product offerings will include easy and convenient transactions from users’ wallets. This service is subsidize by an insurance plan. It also proves the commitment to security. The Binance team is also working towards receiving the ISO27001 certification and SOC 2 report. It also makes the service suitable for institutions seeking peace of mind.

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Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund. IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform. It is built to tackle the scalability trilemma once and for all. The concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability of the IOST team. The platform rolls out a better, innovative product. It is reflective of their true desire to be the best in the sphere.

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