LCX Token – Company Reserve
przez LCX Team · June 10, 2020
LCX Vault: cold storage for crypto assets.
LCX provides institutional-grade custody for cryptocurrencies and digital assets. LCX has developed a proprietary bank-graded cold storage solution applying the highest standards of cryptographic and physical security.
LCX Vault is a deep cold storage solution to store digital assets offline in order to keep them safe and inaccessible. The LCX Vault is based at a high-security secret building in the Principality of Liechtenstein. Swiss security experts created this physical security building to guarantee the highest standard in protection.
LCX Vault features:
- 8 eyes authentication principle
- bank-grade physical security factors, while the storage is outside the banking system
- 24/7 guards
- concrete-reinforced blast doors
- split key storage
- Jurisdiction with high degree of political continuity
- Stable social and economic order
- Legal certainty for crypto assets due to the blockchain legislation
- Investor protection and enforceable rights for toke holders
LCX Vault Decentralized Self-Custody and LCX Vault Cold Storage are currently exclusively used for LCX own assets, but will be made available for all users (retail, institutional and professional clients) in the second half of 2020. Once launched LCX’s cold storage solution will offer complete control and flexible access using an audited and fully insured multi-signing security process.
TT Token Depository in accordance to the Liechtenstein Blockchain Laws.
Since January 1st 2020 the Liechtenstein Blockchain Act aka. the Token and Trusted Technology Service Provider Act (TVTG) came into effect. This legal framework provides the world’s first holistic approach to the token economy enabling a new degree of investor protection for this new asset class. A key element of the law are regulated and compliant custody solutions for cryptocurrencies, tokens and all forms of digital assets. These roles are called Trusted Technology (TT) Key Depositaries and Trusted Technology (TT) Token Depositaries.
Definition of TT Key Depositaries and TT Token Depositaries: Companies who safeguard tokens or private keys for third parties, e.g. in a safe or a collective wallet. This also includes the execution of transactions for third parties. These services are typically provided by crypto exchanges or wallet providers.
Service providers who act as Trusted Technology (TT) Key Depositaries or Trusted Technology (TT) Token Depositaries are subject to the Due Diligence Act (DDA) and FATF standards and money laundering supervision.