New Cryptocurrency Storage Platform “TrustVault” released on iPhone.
Trustology, a United Kingdom based blockchain startup has just announced the development of a cryptocurrency storage platform that can be controlled on the iPhone.
This new application from Trustology is called “TrustVault” and can currently only be downloaded through the United Kingdom Apple App Store. This news was released on Finance Magnates, a hub for multi-asset online trading. Currently, users downloading the app only have the ability to store Ether. However, plans are in place to integrate into the app to store ERC-20 Tokens and Bitcoins.
Trustology, a United Kingdom established blockchain firm has been operating since 2017. This firm helps individuals and businesses safely store digital assets safely. The team is comprised of financial and tech experts. Consequently, the company was able to raise $8 million from investors ConsenSys and Two Sigma Ventures.
The Founder and CEO of Trustology, Alex Batlin stated in the article, “It allows you the ease of a mobile phone, but really what we always talk about is a TrustVault account. If you mention the phone, people think it’s just a phone app. But that’s a bit like saying my bank account is just the mobile bank app. It looks like a simple app, but the real power is in the service behind that.”
Mr. Batlin continued by saying, “The more interesting part about the iPhone platform is that the private key for the user’s wallet is not stored on the physical device, so if the phone is stolen, there is no loss of funds.
Furthering on his comments, Batlin mentioned that the cryptocurrency storage platform may be coming to Android devices shortly but only to a select few. The reasons behind this relates to the Titan M chip that is embedded into the platform. Therefore care has to be taken on which devices have the capabilities to “hold” the storage application.