Scallop collaborates with Binance Custody
Scallop Chain, an on-chain banking app, is partnering with Binance Custody to offer institutional-grade security for its users’ digital assets. Before we delve into what partnership or collaboration entails, let’s understand what the Binance Custody means.
What is Binance Custody all about?
Binance Custody is a compliant, insured, standalone digital asset custody service providing best-in-class security and liquidity solutions to institutional clients. It uses MPC technology with a customizable multi-approval scheme offering bespoke solutions that allow institutions to manage their crypto assets safely and efficiently via the Binance Custody desktop and mobile app platforms.
It was of utmost importance that Scallop Chain since it is a regulated licensed interoperable infrastructure that provides a suite of banking products built to empower millions of retail & business customers worldwide chooses a digital asset infrastructure of the highest security standards to provide its innovative suite of on-chain banking products.
This is where Binance Custody comes in.
Binance Custody ensures this by proffering insured and compliant custodial solutions that also offer institutional clients a unique gateway to liquidity solutions through its innovative Binance Mirror and Cold Convert features.
Also, In addition to multi-party computation (MPC)-backed cold storage solutions that support its native token $SCLP, Scallop will also benefit from Binance Custody’s seamless integration with the vast Binance ecosystem to access deep institutional liquidity venues.
Scallop Chain will now be leveraging Binance Custody’s capabilities in digital asset security and institutional services to bring industry-shaping and cutting-edge products to millions of users across the UK and Europe and help them manage their finances securely.
Scallop Exchange: www.scallop.exchange