Crypto and decentralized finance wallet provider Fordefi said Wednesday it is expanding to the booming Indonesian market with powering local cryptocurrency trading platformto introduce its offering, mostly used by institutional participants such as Pantera Capital and market maker Keyrock, to exchanges, fintech platforms that serve retail investors.
Fordefi aims to make crypto safer with its self-custodial wallet with multi-party computation that divides a single private key among multiple parties, eliminating a single point of failure. MPC wallets are harder to hack and make interaction with DeFi apps less risky.The company has onboarded institutional investors such as Pantera Capital, DeFiance Capital, Keyrock and Flare Network to its wallet offering.
"The lack of security and guardrails in place for retail investors has stifled Web3 adoption," Josh Schwartz, CEO of Fordefi, said in a statement."With Fordefi, retailers can leverage the same security infrastructure used by the most sophisticated institutions in the market.”in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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