YOUNIQX, a subsidiary of the Austrian State Printing House (OeSD) founded in 2018, has announced the launch of a cold wallet for cryptocurrencies. Where OeSD is a provider of identity and e-government solutions along with the development and implementation of personalized solutions for identity documents, YOUNIQX focuses on the establishment of secure digital characters. The cold wallets are gaining attention more than ever with the tremendous acceleration in illegal acts in terms of the crypto world.
YOUNIQX’s cold wallet tends to make secure the crypto whales- the largest holders of the cryptocurrency. The company stated, “Key generation in the high-security zone: the generation procedure, for which a patent application has been filed, ensures that nobody can view the key pair – not even YOUNIQX staff.”
“This highly secure solution has been met with great enthusiasm at the relevant trading platforms. What is more, Chainlock is also the perfect token container for STOs pursuing a retail strategy,” they added. The cold wallet will not only hold the digital currency but also stockpile the security token sold through the security token offerings (STOs).
As reported by the Finance Magnates, BitGo and Civic technologies are also developing a crypto cold wallet focus primarily on privacy. The company indicated that the wallet would require KYC and will store the minimum data. This wallet is still on the path to be developed.
YOUNIQX has also collaborated with Tokenize, a Singapore-based Exchange and Coinfinity in Central Europe for direct assistance of the cold wallet.
However, the crypto wallet mainstay, Abra curbed its support in the U.S. due to the regulatory precariousness.