$20 Billion in Coinbase Assets held in Imtoken Wallet

The founder of Imtoken, major Chinese Ethereum wallet provider Ben He claimed that $35 billion worth of crypto assets are currently stored in Imtoken wallets
05 June 2018   536

Imtoken also declared that it has gained $10 million USD from IDG Capital, and is soon going to integrate support for BTC. Imtoken displayed that it has increased $10 million USD from IDG Capital via its Series A funding round. The firm that affirms to be the world’s largest Ethereum wallet, will now be concerned on splaying in the Asian and United States cryptocurrency markets.

Ben He, Imtoken’s founder, pointed out the firms’s intendance to enter the Southeast Asian markets before looking toward major regional players such as Korea, Japan, and India - stating that declared jurisdictions’ “regulations are maturing quickly.” Imtoken will look toward major African markets, such as Nigeria, after Asian market.

We didn’t have any marketing or promotional budget. We noticed very early the potential of Ethereum and focused on it to differentiate against competitors.
Ben He
Founder, CEO, Imtoken

Imtoken presented that much of the newly raised capital will be put toward developing new features, including support of BTC, EOS, and a row of another altcoins.

Imtoken has developed its product into one of the top crypto asset wallets in the world with such a sound reputation. We believe it will become a significant infrastructure for the tokenization manifesto, benefitting both the crypto economy and blockchain technology. We’re excited to back Imtoken.
Young Guo
Capital Partner, IDG

The company’s app has grown to store since 2016, more than $35 billion worth of cryptocurrency assets, including “More than $20 billion” worth of Coinbase’s customers funds, as reported by a Coinbase spokesperson. Since January, Imtoken users are expected to have accounted for approximately 10% of daily activity taking place on the Ethereum blockchain.

Prime Trust to Launch Custody Service for Crypto

CEO claimed his company will be the first to offer custody for any ERC-20 tokens
15 August 2018   182

Prime Trust announced the launch of the cryptocurrency custody service. This is reported by the Coindesk.

It became known that as early as the middle of July, the bitcoin storage service became available to customers, and next week support for Ethereum and ERC-20 tokens will be added.

In cryptographic storages, the access key to the wallet is stored either on a secure device not connected to the network or on paper in a safe.

Recently, information has appeared that several financial market mastodons, including Goldman Sachs, Northern Trust and Intercontinental Exchange, plan to provide custodian services for cryptocurrencies. However, according to Prime Trust head Scott Purcell, they were able to get ahead of the above-mentioned organizations.

They are trillion-dollar Fortune 100 entities, and they are just not going to move that fast. "We had had an engineering breakthrough which now enables us to easily cold-storage any ERC-20 token (along with BTC and ETH, of course).

Scott Purcell

CEO, Price Trust

Also, Scott notes that Prime Trust will be the first company to offer any ERC-20 tokens storage services.