Upbit launches virtual asset custody service 'Upbit Custody'… Addressing corporate demand

Dunamu, the operator of virtual asset (cryptocurrency) exchange Upbit, announced on the 14th that it will launch a virtual asset custody service called 'Upbit Custody'.

Upbit Custody is a virtual asset custody service designed exclusively for corporations and institutions using Upbit's proprietary storage technology and infrastructure. As corporate virtual asset investments are allowed step by step, the demand for safely storing and managing these assets is expected to grow. Upbit aims to respond to this demand through Upbit Custody.

Upbit Custody securely stores 100% of all client-deposited virtual assets in cold wallets that are isolated from the internet, blocking external threats such as hacking. In addition, it employs a multiple management system with MPC (Multi-Party Computation) and DKG (Distributed Key Generation) to prevent accidents from leaked single keys.

Furthermore, Upbit Custody offers a customized wallet configuration feature, allowing assets to be managed in separate wallets based on type and intended use. Through this, corporations and institutions can systematically manage their virtual assets and ensure transparent asset operation, including enhanced accounting efficiency and compliance with internal audits.

An Upbit representative emphasized, "Responsibility, technical stability, and procedural transparency are key for virtual asset custody," adding, "Upbit Custody is equipped with world-class strong security capabilities to thoroughly prevent internal incidents and external threats." He further stated, "By meeting legal standards and equipping Upbit Custody with internal control and audit response systems, we aim to provide a custody service that meets global standards."

Meanwhile, Upbit Custody is available to corporations and institutions that have completed the KYC (Know Your Customer) process and can be applied for through the Upbit Custody page.