Singapore, August 13th 2020 - Bitcoin Association and CYBAVO have announced today the addition of Bitcoin SV (BSV) to the list of currencies supported by CYBAVO’s digital asset custody and management platforms for enterprise.
This addition will allow enterprise customers to leverage CYBAVO VAULT platform to custody their BSV assets, and to develop BSV mobile wallets for their end customers with CYBAVO Mobile Wallet SDK. CYBAVO also offers a private blockchain key management platform called VAULT X, designed to support a broader range of enterprise blockchain applications beyond digital currencies, one of the key characteristics of Bitcoin SV blockchain.
CYBAVO is a leading cybersecurity company providing digital asset custody platforms for enterprise. CYBAVO’s technology is already protecting the virtual assets of dozens of companies globally, and has shielded more than USD 7.5B in transaction volume. The company recently announced an agreement with a global reinsurer to provide cryptocurrency loss insurance protection for its customers in case of asset theft.
Bitcoin SV currency has rapidly positioned itself to the Top 10 digital currencies by market capitalization since its creation in late 2018. Bitcoin Satoshi’s Vision (BSV) was created with the goal of increasing the adoption of blockchain technology by enterprises and the general public, by focusing on the scalability of the network and the potential applications that this blockchain could support like smart contracts or IoT communications. The ecosystem now counts with 428 known projects and ventures. Bitcoin SV is supported by the global industry organization Bitcoin Association.
Jimmy Nguyen, Founding President of Bitcoin Association said on the announcement: ‘With the continued growth that we are witnessing across the Bitcoin SV ecosystem, enterprise-grade solutions for digital asset security and management, like those offered by CYBAVO, will be increasingly in demand. As big businesses build their applications on Bitcoin SV because of its massive scaling capacity, they will generate high volumes of BSV microtransactions and need secure wallets to manage high coin traffic in daily operations. We are pleased that CYBAVO is providing Bitcoin SV businesses another strong option for their security and asset management needs. ’
Paul Fan, CEO of CYBAVO commented: ‘Bitcoin SV aims to broaden the adoption of blockchain for enterprise use cases. At CYBAVO, we share the same vision of scalable and business-ready blockchain solutions that spark adoption by enterprises and the general public, so it is only logical for us to add Bitcoin SV support to our digital asset custody platform CYBAVO VAULT and our mobile wallet SDK.’
Roberto Machado - Product Director
About Bitcoin Association
Bitcoin Association is the Switzerland-based global industry organization that works to advance business on the Bitcoin SV blockchain. It brings together essential components of the Bitcoin SV ecosystem – enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others – working alongside them, as well as in a representative capacity, to drive further use of the Bitcoin SV blockchain and uptake of the BSV digital currency.
The Association works to build a regulation-friendly ecosystem that fosters lawful conduct while facilitating innovation using all aspects of Bitcoin technology. More than a digital currency and blockchain, Bitcoin is also a network protocol; just like Internet protocol, it is the foundational rule set for an entire data network. The Association supports use of the original Bitcoin protocol to operate the world’s single blockchain on Bitcoin SV.
About CYBAVO Pte. Ltd.
CYBAVO Pte. Ltd. provides insured digital asset custody solutions for enterprises and financial institutions, such as cryptocurrency exchanges, digital asset managers or custodians.
The company was founded in 2018 by a team of experts from cybersecurity, blockchain and digital currency industries. CYBAVO technology is already protecting more than USD 7.5B worth in transactions of dozens of companies globally.