(IDQuantique) ID Quantique (IDQ), a world leader in quantum-safe security solutions has announced the company is partnering with Mt Pelerin, the Swiss leader in blockchain banking and finance, to provide quantum security for digital asset custody.
The wave of blockchain-based digitalization of financial assets is gaining momentum and starting to enter the focus of traditional banks and financial organizations. However, today there is a lack of institutional-grade security solutions for digital asset custody (DAC). This is a major technological concern for institutions like banks, custodians, prime brokers or any other corporations dealing with cryptocurrencies or tokenized assets.
Mt Pelerin plans to integrate the solution in the blockchain banking system that it is developing, in order to provide its customers with the most secure digital asset custody system possible. The partners also plan to implement it as a high-end turnkey solution for global custodians, prime brokers, crypto vaults, crypto exchanges and other institutional corporations for which the secure storage of digital assets is a vital requirement.
This proposition combines hardware and software components, including: Quantum Random Number Generators (QRNG) to provide true entropy for key generation; Secret Sharing Scheme (SSS) and specific Key management software for a secure backup with no asset duplication; and optical fiber infrastructure protected by Quantum Key Distribution (QKD, Quantum Cryptography) for assets storage on distributed Hardware Security Modules (HSM).