Tokocrypto Selects Ceffu to Strengthen Regulatory Compliance
We are pleased to announce that Tokocrypto, Indonesia's first regulated crypto asset exchange, has chosen to safeguard their users’ digital assets using our MPC-backed cold storage solution, Qualified Wallet.
“Committed to upholding the highest standards of user protection, we strive to continually integrate unmatched security measures into our platform. Together with Ceffu’s institutional solutions and strong track record, we are excited to work towards this vision.” – Yudhono Rawis, CEO, Tokocrypto
As the industry continues to mature by way of large traditional financial institutions adopting digital assets and regulators establishing clearer policies and frameworks, we’ve been increasingly working with cryptocurrency exchanges to support their regulatory compliance needs by providing top-grade security solutions to secure their assets. We recently announced a similar partnership with Gulf Binance (“Binance TH”), the Thailand entity of Binance, which uses Qualified Wallet to store at least 90% of its users’ assets at all times.
“As one of Southeast Asia's leading regions in crypto adoption over the years, Indonesia has shown remarkable growth. We are pleased to support Tokocrypto in their journey through our institutional custody solutions. The importance of crypto custody is growing quick, and we are proud to be the infrastructure providers, ensuring that users can continue to securely access digital assets.” – Ian Loh, CEO, Ceffu
How does Qualified Wallet work?
Qualified Wallet is an institutional-grade cold wallet backed by multi-party computation (MPC) technology. Its mechanism requires M key shares for signing and verification from N key shares to authenticate any transaction, thereby removing any single point of failure when managing transactions such as withdrawals.
Our key management infrastructure is based on the Threshold Signing Scheme (TSS) and key shares are generated on separate, air-gapped FIPS 140-2 compliant devices, maximizing both security and reliability for all our clients. By splitting the private keys into multiple pieces and distributing them in multiple places, it ensures that no one person has full access to the private key and that it is never fully reassembled.
Assets stored in Qualified Wallet are protected in segregated, on-chain verifiable wallets at all times, enabling enhanced transparency and real-time tracking of assets.
This setup adheres to a zero-trust security model, where each digital interaction is independently verified, ensuring that no unnecessary trust is placed in any single interaction at any point in time.
We are audited
Our solutions are ISO 27001 and 27701 certified, which assess an organization’s security and privacy controls respectively and ensure that all the right measures are implemented to safeguard our users.
We are also SOC 2 Type 1 & 2 compliant, which attests to our cybersecurity controls at a single point in time. This qualification requires auditors to analyze how Ceffu safeguards customer data and how well those controls are operating over a period of time.
Not a Ceffu client yet?
Contact us to learn more about how Ceffu’s custody and liquidity solutions can help drive your business forward, contact us using our institutional form.
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About Tokocrypto
Tokocrypto is a leading cryptocurrency exchange (CEX) and brokerage based in Jakarta, Indonesia. Founded in 2018, they are the country's fastest-growing digital asset exchange in terms of user registrations and trading volumes. As the first entity registered under the Trade and Futures Exchange Ministry (BAPPEBTI), they are dedicated to educating Indonesians about blockchain technology and integrating it into society and the global economy.
About Ceffu
Ceffu is a compliant, institutional-grade custody platform offering custody and liquidity solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets.
Institutions may also benefit from Ceffu’s secure gateway to a wide range of liquidity products within the Binance ecosystem. This can be achieved through MirrorX, our off-exchange settlement solution, provided in partnership with Binance.
Media contact: pr@ceffu.com
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