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Digital Asset Custody Company Announces Secure Custody Solution for Stellar Lumens


Digital Asset Custody Company Announces Secure Custody Solution for Stellar Lumens

DACC support extended to more than 90 tokens and ten blockchains, including payment-oriented XLM

PR Newswire

SECAUCUS, N.J., Aug. 14, 2018 /PRNewswire/ -- Digital Asset Custody Company ("DACC"), the first purpose-built custody solution for institutional investors in cryptocurrencies and other digital assets, today announced that it can now provide custody support for Stellar Lumens (XLM), a cryptocurrency based on a blockchain devoted to transforming payment and currency exchange systems. DACC now offers the ability to securely custody over 90 digital assets and ten blockchains for a range of institutions including registered investment advisors, hedge funds, private equity firms and token issuers.

"With a market cap in the billions of dollars, XLM has become one of the more widely-held cryptocurrency investments in today's market - necessitating a secure, trusted solution for institutions that require a custodian for regulatory or client due diligence purposes," said Matthew Johnson, Co-Founder and Chief Product Officer for DACC. "We're excited to be one of the first custody providers to institutional investors to offer coverage for Stellar, and are looking forward to continually expanding our coverage capabilities in the months ahead."

DACC was founded specifically to serve the institutional investment market and was built on five core principles: security as a feature; innovation in custody and wallet technology; support for any digital asset or token; regulatory clarity and compliance with all applicable rules and regulations; and institutional-grade, white glove client service. Accordingly, DACC's custody solution provides support for over 90 tokens and ten blockchains, the fastest egress from cold storage in the industry, and beyond enterprise-grade cyber and physical security, designed by a senior management team comprised of investment executives, hedge fund operations experts and government agency security experts.

"When we founded DACC, our first step was to speak with prospective clients who are either invested in digital assets, or are interested in doing so. Custody was and remains a priority, but security concerns and the need to adapt to a fast-evolving cryptocurrency market required a bespoke, custom-built solution," remarked Doug Schwenk, Chairman and Founder of DACC. "Adding XLM demonstrates our commitment to offering the widest coverage in the industry without sacrificing security or client service."

About Digital Asset Custody Company

Digital Asset Custody Company, or DACC, is a custody solution purpose-built for institutional and alternative managers invested in the cryptocurrency and token space. Our custody offering was built from the ground-up to secure digital assets on behalf of institutional clients. With its proprietary technology, DACC is able to custody over 90 cryptocurrencies and ten blockchains, rapidly and securely egress digital assets from air-gapped cold storage, and provide clients with unparalleled, 24/7 physical and digital security to safeguard their assets. Our team of former investment executives, hedge fund operations experts and government agency information security officers provides extensive technology, investing and security experience, and has built the systems used every day by major asset managers.

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Ryan Dicovitsky
Dukas Linden Public Relations

Michael Fitzgerald
Chief Executive Officer
Digital Asset Custody Company

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