DigiVault is a new digital asset custody service offered by CoinSwitch, the biggest cryptocurrency platform in India. The platform is primarily intended for Web3 businesses, high-net-worth people, family offices, and organisations that require safe bitcoin storage.
DigiVault makes use of technology from the well-known digital asset security firm Fireblocks. Multi-Party Computation (MPC), which divides private cryptographic keys into several sections, is the foundation of the system. This greatly increases the security of the storage system by eliminating a single point of failure.
DigiVault was initially developed by CoinSwitch for internal usage, but after observing an increase in demand from institutional investors, the business made the decision to make it available to external clients. Large investors have begun to enter India’s cryptocurrency industry in recent months.
The platform also allows partners to tokenise real-world assets. This means assets such as securities or financial instruments can be converted into digital tokens and managed on blockchain networks.
DigiVault follows Indian regulatory requirements, including KYC checks, anti-money-laundering monitoring, and proper reporting systems.
The launch comes at a time when Indian authorities are increasing oversight of the crypto sector. The tax department has already issued thousands of notices to investors who did not properly report crypto earnings.
With DigiVault, CoinSwitch hopes to strengthen its role as a full-service digital asset platform in India.
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