What will surprise 6 updates of the custodial service from Matrixport

Investment and trading platform ManyMatrixport people already trust from Bitmain. And it could not be otherwise with such a leader as John Ge, who is also the co-founder of Bitmain. However, not everyone knows that the platform can already offer much more than innovative tools for trading and investing.

The platform also offers the custodian service Cactus Custody, which is actually much more than just a service for the safe storage of cryptocurrency assets. This is a whole multifunctional system for managing personal and corporate finances. 

But the company did not stop there, and managing assets of more than $ 500 million, it created even more convenient and flexible tools, six of which we will discuss in this article.

1.Dashboard for tracking and managing assets: information in the right context and in real time

With modern information overloads, flexible tools have an obvious advantage, allowing one-screen coverage of the distribution of the entire asset portfolio.

Cactus Custody took the dashboard very seriously and in the new version portfolio categorization by asset type, type of activity, and type of user is already available. Thus, information is available in the context of the entire business in a generalized form and in the context of each type of activity, as well as the required depth of detail.

In addition, the new panel integrates market prices loaded by Cactus Custody partners, which allows real-time monitoring of the nominal value of assets placed on the platform.

2. The coordination matrix: a flexible tool for modern business

Today, more and more organizations are truly working on a global level, uniting teams in different parts of the world, and performing various tasks. 

For this level of interaction, a flexible tool is required to coordinate decisions and build vertical and horizontal communications. At the same time, the internal approval processes can vary significantly depending on the activity, goals, and team. 

To provide customers with such flexibility and the ability to customize the product for a specific business, an improved version of the Cactus Custody approval matrix was created. 

For horizontal decision-making chains, a tool for joint decision-making at the same level has appeared, with the electronic signature of all decision-makers.

For vertical decision-making chains, the ability to link the maximum amounts by which they can make decisions to various levels of the organization hierarchy has also been added. 

For example, withdrawing funds above 100 bitcoins will automatically require a higher level of coordination, such as the approval of the financial or CEO.

 

3. Instant notifications: an additional layer of security

Cactus Custody custodian service ensures the safety of funds, thanks to vaults that meet the industry's highest security standards HSM FIPS 140-2 Level 3 and higher according to the US Federal Information Processing Standard, which is located on three continents: USA, Switzerland, and Singapore.

However, organizations and teams may also face internal risks, when the delay in tracking human error and employee fraud can cost significant amounts.

So that customers can track any changes and always keep abreast, Cactus Custody sends instant notifications via SMS and e-mail. 

It is simply impossible to miss important information in the updated version: notifications are received about entering the account and authorization on a specific device, as well as about all key actions and transactions.

4. Risk management: a tool for maximum internal control 

However, notifications alone would not be enough for risk management and the custodial service also offers an improved risk management tool with three main functions:

  1. One-click lock and unlock allows the account administrator to immediately respond in emergency situations and stop activity on all accounts of the organization, as well as painlessly return to activity after eliminating risks.
  2. The list of verified addresses, edited inside the tool, allows you to add frequent recipients and avoid the risk of sending assets for other purposes.
  3. Withdrawal limits help the administrator set withdrawal limits per day, week, or month for various team members, as well as asset types and maintain maximum internal control. 

5. Data uploading center: ready-made reporting in one place.

For companies and teams, the possibility of complete reporting uploading at any time will also be relevant, which is especially important for financial reporting and trust management, as well as for audit purposes and to resolve internal and external disputes.

The new version of the Cactus Custody Data Upload Center simplifies this task even further, saving time and effort. Now on the platform, you can configure what data will be in the report and upload data in any section: by type of activity, by type of asset, or by time period. 

6. Two-in-one wallet: the convenience of withdrawing funds from the platform

In addition to additional risk and information management tools, the new version of the custodial service Cactus Custody also offers an even more convenient wallet from the point of view of withdrawing funds.

In the “Prime” main account, funds are stored in maximum safety, that is, they are stored in “cold” storage, however, for convenience of use, “hot” types are also offered. For unspent incoming transaction balances (UTXO), two output options are offered: through a mixed and separate wallet.

  • With a mixed wallet, the withdrawal process is simplified. In this case, there is no need to separately indicate from which address the transaction should be carried out: the system will create the transaction on the terms most favorable to the user, minimizing fees, and automatically select the address.
  • On a separate wallet, you can select a specific withdrawal address, thereby controlling the balance at each address.

At the same time, in any case, it remains possible to instantly conduct transactions and withdraw funds in one click.

 

Thus, the improved version of the custodial service on Matrixport surpassed itself by providing even more convenient and flexible tools for withdrawing funds, controlling risks, managing teams, and information.

It is amazing that now you can try the service for free and appreciate how flexible and convenient tools are offered on the platform and how they are suitable for specific tasks and types of business. Request a free testing service can be the link.