As the world becomes increasingly digitized, it’s no surprise that digital assets have become a crucial aspect of the financial industry. However, with this growing dependence on digital assets, the need for secure and efficient digital asset custody has become paramount. Enter DECUS Network GmbH, a Berlin-based startup revolutionizing the digital asset custody middleware for asset managers and banks.
Introducing DECUS Network GmbH
DECUS Network GmbH is a middleware that enables banks and asset managers to integrate its network of crypto custody providers through a single unified API. By acting as a middleman between the client and the crypto custody provider, DECUS Network addresses multiple layers of pain in the custody process. The company’s primary focus is to provide its clients with access to a range of secure crypto custody providers, empowering them to spread their assets across several custodians, reducing their critical system failure risk significantly.
Secure Digital Asset Custody
DECUS Network provides secure digital asset custody by ensuring that the private keys of the clients remain at the custodian. The private keys to access the wallets of the custodian are placed in a client module that only the client has access to, ensuring that DECUS never handles the private keys of the clients. A client triggers a transaction via the DECUS interfaces, and after a transaction is triggered, an unsigned call is sent from the DECUS backend to the client module. The client can then authorize this transaction with the private keys stored in the module. If a transaction is successfully authorized, the call is signed and sent back to the DECUS backend, which is then forwarded to the custodian, who executes the transaction.
Spreading Assets Across Custodians
DECUS Network empowers clients to spread their assets across several custodians, reducing their critical system failure risk significantly. With every system being hackable, regardless of its security standards, spreading funds across systems can help address the implied cost of cyber vulnerability. Additionally, a client might experience a “lock-in syndrome” if a single provider fails to meet the expectations, or the client’s needs change, making it difficult to switch providers due to switching costs or contractual agreements. By integrating DECUS Network’s network of custodians, clients have access to a range of providers, offering features tailored to their individual trading strategies.
Advantages and Disadvantages of Different Custody Providers
Different providers come with different advantages and disadvantages due to different technologies in crypto custody. For example, hot storage offers high speed, while cold storage offers higher security but at the cost of considerably higher latency. DECUS Network offers clients the ability to select a range of custodians offering features tailored to their individual trading strategies.
Conclusion
DECUS Network GmbH is revolutionizing digital asset custody middleware for banks and asset managers. By enabling its clients to integrate its network of crypto custody providers through a single unified API, DECUS Network addresses multiple layers of pain in the custody process. With secure digital asset custody and the ability to spread assets across several custodians, DECUS Network is helping clients fix all these pains with a single tool.
Website: https://www.decus.network/
LinkedIn: https://www.linkedin.com/company/29321698/admin/
