INLOCK Unveils New Service for Extra Security

BUDAPEST, Hungary, May 19, 2020 /PRNewswire/ -- INLOCK, the peer-to-peer financial provider announced that they have joined the FireBlocks network and from now on, digital assets are protected by a unique insurance policy. INLOCK has also introduced the 100% physical gold-based PAXG token, with which clients can not only access the digitized gold-based product, but they can also earn an interest using the Stake option.

Stake option with a gold-based investment

"Gold-based solutions are extremely popular, especially in uncertain market conditions," explained Csaba Csabai, INLOCK co-founder and CEO. "Companies using blockchain-based solutions are open to innovation. New York-based Paxos Trust Co. was one of the first ones to recognize the importance of blockchain-based, tokenized gold solutions, and created PAXG token. It is the only gold-based, regulated product on the market with a 100%-gold collateral, in case of which customers are also the owners of the physical collateral."

With PAXG tokens sent to Stake option, customers can achieve an annual interest of 2.25%, depending on the sum. The same Stake option offers an annual interest of 4.05% in case of Bitcoin, and 3.03% in case of Ethereum, with a one-month fixed-term contract.

Maximum safety for client assets

INLOCK has joined the FireBlocks network, which provides security for the largest blockchain-based financial companies in the world. It is an easy to use, enterprise-grade platform for financial institutions that need to streamline digital asset trading operations without sacrificing security. FireBlocks can securely transfer assets across exchanges, wallets, custodians, and counterparties and keep them readily available using patent-pending chip isolation security and MPC technology. FireBlocks, besides its premium services, has a unique insurance policy for clients and from now on, also for INLOCK.

"The decision to choose FireBlocks is a result of a one-year long process. Several companies provide cold wallet type, high-safety solutions, but these are not sufficient for INLOCK, being a peer-to-peer provider," explained Viktória Kazár, INLOCK COO. "With FireBlocks, we can protect all client assets, not only the sum held in cold wallets. Although safety has always been of the highest priority for INLOCK, due to the cooperation with our new partner, now we can develop more dynamically as we don't have to share resources between product and security development."

Continuous innovation

INLOCK is keen on innovation. "INLOCK mobile app is soon to arrive. Besides, we are preparing an innovative function which enables our customers to use their cryptos as a collateral – and earn yields at the same time. It will be a combination of the most popular services of our platform," said Péter Angyal, chief developer at INLOCK.

About INLOCK

INLOCK is a blockchain-based platform offering members collateralized loans in stablecoin and crypto investment options with interests higher than the average market interest. The company was founded in 2018 by a Hungarian Fintech team with the aim to find crypto-based solutions for financial challenges.

SOURCE INLOCK