cryptocurrency

Rambus Unveils Vaultify Trade for Secure Transaction and Storage of Crypto Assets on Blockchain


SUNNYVALE, Calif. & LAS VEGAS–()–Ushering in a new level of security for blockchain implementations, Rambus
Inc.
(NASDAQ: RMBS), today announced the availability of Vaultify
Trade
. The platform enables the secure storage and transfer of
crypto and digital assets using proven, bank-grade, field-deployed
tokenization and encryption technology. Vaultify Trade is the first
product that enables banks, exchanges and investment portals to leverage
tokens to secure the purchase, storage, exchange and sale of
cryptocurrencies.

451 Research Director, Jordan McKee explains: “While cryptocurrencies
represent significant opportunities, a major risk factor is that they
are prone to theft, in large part due to the lack of strong security
solutions for the blockchain. This undermines consumer confidence and
limits the ability for financial services companies to offer products
that help comply with regulations and best practices. With additional
trust and transparency, the potential for cryptocurrencies to transform
financial services can be realized.”

Blockchain is gaining increased traction across industries with the
decentralized public-ledger framework opening new use cases daily,
extending beyond cryptocurrency into financial services, retail, real
estate, healthcare and insurance. While it provides a trusted and
immutable record, the blockchain is not completely secure. Blockchain
stores assets of value at an address in a public ledger using a private
key. Much like a card or account number to access funds, that key is all
that is required to access that digital asset, and if it is lost or
stolen, that value is gone. Multi-signature enhances the level of
security by introducing additional distributed keys for recovery and
authentication of transactions, but still relies upon the use of
original keys that are vulnerable to attack. Given the high-value
financial and safety-critical nature of some proposed use cases, it is
imperative that nothing alters data prior to its placement on the
blockchain.

Tokenizing crypto assets and the blockchain

To meet this critical market gap, Rambus has created Vaultify Trade.
Vaultify Trade combines multi-signature with proven, bank-grade
tokenization technology to enhance security, confidentiality and privacy
by replacing sensitive credentials—such as private keys for blockchain
and crypto assets—with a non-sensitive equivalent token that is unique
to each transaction. Unlike the private keys used to authorize
blockchain transactions, tokens cannot be used by a third party to
conduct transactions if intercepted. By replacing sensitive private keys
with a limited use token that can include domain controls for device or
channel, tokenization mitigates fraud risk and protects the underlying
value of credentials. This reduces cryptocurrency security risks, which
have led to enormous losses, adverse brand impact and suspensions of
trading.

“Crypto assets are on the verge of going mainstream, but many of today’s
consumers find cryptocurrency to be inaccessible and confusing, and are
concerned by high-profile hacks. In order to accelerate adoption,
consumers are seeking a secure, familiar way to access, trade, and own
crypto assets through their trusted banking or trading apps,” said
Jerome Nadel, GM of Payments and CMO, Rambus. “With over 100 billion
transactions secured by Rambus technology, Vaultify Trade is a logical
extension of our tokenization expertise. Banks, exchanges and investment
houses can now quickly incorporate blockchain technologies into their
product portfolios, armed with the confidence that data, value and
assets are secure.”

Designed for virtual assets on the blockchain, Vaultify Trade features
include:

  • Tokenized Security – Replace sensitive private keys with
    domain-specific tokens to secure the transaction and storage of
    digital assets, limit vulnerabilities and improve trust.
  • Multi-Signature – Multi-signature wallets require at least two
    signatures to confirm a transaction, increasing security and
    preventing fraud, while enabling faster transactions.
  • Segregated Wallets – Combine the security benefits of an
    offline cold wallet with the convenience of an online wallet through
    multi-factor authenticated access to an online segregated wallet.
  • White-label app and SDK – The Vaultify platform can support a
    white-label app or an SDK, allowing consumers to easily access and
    trade cryptocurrency through their usual mobile and desktop banking
    portals.

To learn more about how Vaultify Trade can help your organization,
please visit www.rambus.com/vaultifytrade.
Or, to see a demo of Vaultify Trade, please visit Rambus during Money
20/20 in Las Vegas at the Sands Expo Center in Booth #1349.

Follow Rambus:

Company website: rambus.com

Rambus blog: rambus.com/blog

Twitter: @rambusinc

LinkedIn: www.linkedin.com/company/rambus

Facebook: www.facebook.com/RambusInc

About Rambus Security

Rambus Security is dedicated to providing a secure foundation for a
connected world. Our innovative solutions span areas including tamper
resistance, network security, mobile payment, smart ticketing and
trusted transaction services. Rambus foundational technologies protect
nearly nine billion licensed products annually, providing secure access
to data and creating an economy of digital trust between our customers
and their customer base. Additional information is available at rambus.com/security.

About Rambus Inc.

Dedicated to making data faster and safer, Rambus creates innovative
hardware, software and services that drive technology advancements from
the data center to the mobile edge. Our architecture licenses, IP cores,
chips, software, and services span memory and interfaces, security, and
emerging technologies to positively impact the modern world. We
collaborate with the industry, partnering with leading chip and system
designers, foundries, and service providers. Integrated into tens of
billions of devices and systems, our products and technologies power and
secure diverse applications, including Big Data, Internet of Things
(IoT) security, mobile payments, and smart ticketing. For more
information, visit rambus.com.

Source: Rambus Inc.





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