Compliance + Security: HyperPay Creates a Web3.0 Asset Management Storage Paradigm

From Bitcoin becoming the legal tender of El Salvador to the involvement of encrypted assets in the Russian-Ukrainian conflict… With the increasing popularity of the encrypted market and the high attention of Bitcoin in traditional financial institutions, regulatory actions against the encryption industry have also increased in the past two years. .

It is true that the increased supervision has brought a certain impact on the cryptocurrency market, but in the long run, compliance development is not only a policy requirement to promote the healthy development of blockchain finance at the national level, but also a fair development environment for industry practitioners. The realistic demand for wider recognition and participation is also the desire of the majority of investors to obtain security.

Regulatory Compliance, Eliminate the Sword of Damocles

As the infrastructure of the cryptocurrency market becomes more mature and perfect, the development of industry compliance has become the general trend. After the savage growth, some leading companies have gradually figured out “the way of compliance” and become a model in the industry, which is bound to promote the prosperity of the entire encryption industry.

In the past, there was Coinbase, the “first stock of encryption”, and then Binance, which was “encircled and suppressed” by many countries and actively embraced regulatory compliance. A large number of facts have proved that the encryption market under the sword of Damocles abides by regulatory compliance. A shortcut to better development.

Asset custodian HyperBC knows this well and has made a lot of efforts for it.

A few days ago, HyperBC made a breakthrough in the compliance process and obtained the Lithuanian crypto asset custody license. Its HyperPay wallet has become the first digital currency wallet to hold a compliant custody license, providing compliant custody services for digital assets of global users and ensuring the security of digital assets.

As more and more regulators begin to issue licenses for crypto-asset trading and custody, it can be seen that the government is changing: from exclusion to wait-and-see, from wait-and-see to regulatory construction. HyperBC believes that the crypto asset industry will follow the development of Reg Tech (regulatory technology) and further integrate into compliance supervision. This process will accelerate the adoption of crypto-assets around the world and will justify the existence of crypto-assets while allowing more crypto-assets to enter investors’ portfolios. It is logical that embracing regulation will become an important strategy for future crypto asset service providers.

In the next step, HyperBC will actively seek financial licenses from more countries and regions. Combined with years of hard work and technology accumulation in the industry, HyperBC will pay more attention to compliance operations and risk control to ensure better digital asset services.

Meet the new encrypted asset storage requirements under Web3.0

Compliance is an important foundation for the sustainable development of an enterprise, and whether it can meet the diverse needs of customers is the foundation of enterprise development.

The latest statistics show that the sales of NFT (Non-Fungible Tokens) in 2021 have exceeded $17 billion. Nonfungible website and market consulting company L’Atelier released a report that NFT sales will reach $17.6 billion in 2021, and only $82 million in 2020, an increase of about 210 times. From the beginning of 2022 to the beginning of March, the weekly transaction volume of NFTs is about $687 million, which is slightly higher than the $620 million in the fourth quarter of 2021. All the way to the sky-high price, the NFT field has become a “paradise” for hackers and thieves, and related theft incidents emerge one after another. 

On the morning of February 21, Beijing time, OpenSea was attacked by hackers, and some users’ NFTs were stolen, worth $1.7 million. According to PeckShield, the attack resulted in the theft of 254 tokens.

On February 1, the collection of an NFT collector was stolen, and the loss exceeded 2.7 million US dollars (about 17.28 million yuan) in a few minutes, which was extremely tragic.

Under the wave of Web 3.0, new demand for encrypted asset storage arises. Hardware wallets are gradually becoming the preferred solution for crypto investors and NFT collectors to safeguard their assets.

The hardware wallet is essentially an offline storage device with secure components and chips. During use, the hardware wallet will transmit data through offline methods such as QR code, USB, Bluetooth, etc., eliminating the risk of attack from the network, and the security level can reach Bank-level, some products that pursue high security levels can even reach military-level standards. For example, the Hyper Mate Pro under the HyperPay wallet is equipped with a CC EAL6+ security level chip. According to international standards, bank chips require CC EAL5+ security level, and CC EAL6+ level and above are military-level standards, which can provide sufficient security.

On the other hand, the transaction operation of hardware wallets usually requires confirmation in the form of physical buttons. It is very difficult to transfer assets without the owner’s knowledge. Hyper Mate Pro is also equipped with a fingerprint recognition module, even if the wallet falls into the hands of others Transaction authorization could not be completed either.

In addition, Hyper Mate Pro supports tens of thousands of asset types. Connecting the HyperPay wallet via Bluetooth can also perform firmware upgrades and support more public chain currencies. Users do not need to worry about compatibility issues and prepare multiple different wallets.

Not only a hardware wallet, HyperPay has built a financial ecosystem integrating wealth management, mining, lending, and cloud computing power around the core business of wallet asset management in order to meet the diversified needs of more users, and launched its own The four-in-one asset management structure of management, custody, co-management, and hardware wallet allows users to switch wallet modes at will in the HyperPay APP, and assets between different wallets can be freely transferred, whether it is a novice user or a senior investor, whether Whether it is personal asset management, family or enterprise asset management, suitable solutions can be found in the HyperPay ecosystem.

Epilogue

Since its establishment in 2007, its HyperPay wallet has more than one million users, its asset management scale has exceeded 1 billion US dollars, and its transfers have exceeded 310 million times. Its managed wallet public chain supports 51+, self-managed wallet public chain supports 30+, and HyperMate hardware wallet supports public chain 17+.

NFT, Metaverse, Cross-chain… Under the wave of Web3.0, HyperPay conforms to the development trend, hits a combination of “compliance + security” and pays more attention to user experience, thereby attracting a wider target market.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/compliance-security-hyperpay-creates-a-web3-0-asset-management-storage-paradigm/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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