Qredo Introduces Zero Fee Custody for Digital Assets
Qredo now offers digital assets investors institutional-grade custody and custom governance with zero fees
London, 27th August 2021 — Decentralized custody provider Qredo has announced the introduction of zero fee custody, allowing teams and individuals to store digital assets on Qredo Network completely free of charge.
Bitcoin, ethereum, and ERC-20 tokens can be held with unprecedented security and customizable governance, without custody fees. This makes storing digital assets as cost effective as traditional assets such as stocks, bonds, and ETFs — enabling organizations to conduct digital asset operations with unprecedented capital efficiency.
"Over the past few years, traditional financial services have seen downward pressure on custodial fees," said Qredo CEO Anthony Foy. "By moving to a zero fee model, we are bringing the digital asset market in line with this trend to create a seamless transition for institutions, teams, and sophisticated traders."
Looking to the future, zero fee custody is just the beginning. Qredo's journey to decentralization will transform the Network into a custody-for-profit center, allowing users to earn yield from holding digital assets.
Until then, corporate treasurers, exchanges and other digital asset ecosystem participants are invited to experience institutional-grade governance, instant settlement, secure custody and more by storing assets on the Qredo Network and integrating via the proprietary API.
What is a custodian?
Custody can be defined as "a safekeeping service that a financial institution provides for a customer's securities." Read more about custody and custodianship
Is Qredo a custodian?
Qredo is not a custodian as it does not take possession of private keys, and does not have access to assets or participate in signing transactions.
Instead, Qredo Network is custodial infrastructure. The difference could be compared to that between the manufacturer of a bank vault, and a bank using that vault to take custody of customer funds.
We believe that decentralized custody is the best infrastructure for holding digital assets.
How does Qredo hold and protect my crypto?
Qredo uses an advanced cryptographic technique called multi-party computation (MPC) to remove private key risk and introduce a new paradigm in crypto security.
MPC is the biggest cryptographic breakthrough since the invention of public-key cryptography nearly 50 years ago. It enables a decentralized, shared computation of the signature on a transaction — with no need to create a whole private key that then needs to be stored in a wallet or centralized database.
MPC is just one of Qredo’s seven lines of digital asset defense.
How does Qredo custody compare to other custody methods?
Crypto custody infrastructure usually comes in one of three formats: self-custody, collaborative custody, and third-party custody.
To illustrate how Qredo compares to these, here's a comparison of all the different custody methods — written from the point of view of a corporate treasurer who is new to crypto and wants a clear overview of the pros and cons of each approach.
Qredo also offers its users a growing range of exciting non-custodial features, including the newly launched Liquidity Hub — a peer-to-peer trading venue.
What is governance?
Investment teams -- particularly in large asset management organizations -- face a number of organizational and regulatory considerations when looking after assets of any kind (this includes both traditional securities and the new generation of crypto assets).
This oversight of assets and activity by the investment team is called “governance”.
Governance can vary from country to country, depending on the local regulations, and also by organization -- depending on its structure and the type of investment products it is selling to underlying customers.
To meet these varying governance requirements, Qredo enables investment teams to configure their Qredo account to reflect their operational environment, systems and controls. This includes the ability to set up an unlimited number of funds and client accounts within a single Qredo account, to match the structure of the existing business. Qredo can also be customized to allow the implementation of organization-specific compliance and signing rules, with transparent reporting for internal and external oversight of investment activity.
About Qredo: Qredo is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. Qredo's Layer 2 blockchain protocol enables users to seamlessly transfer and settle bitcoin, Ethereum, and ERC-20 tokens. Assets are secured by Qredo’s advanced Gen 2.0 Multi-Party Computation (MPC), which provides tier-1 bank security and institutional-grade governance.
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