DitoBanx, a crypto payments processor that offers Mastercard off ramps for crypto, will now be able to provide secure digital asset custody solutions to individuals and businesses.
Qredo, a leading enterprise-grade digital asset custody solutions provider, has today announced its partnership with DitoBanx, a neobank for the unbanked in Latin America.
This partnership will see DitoBanx begin providing its customers with secure and compliant storage of digital assets using Qredo’s decentralized multi-party computation (dMPC) protocol that offers cryptocurrency security and governance solutions.
Qredo’s dMPC technology, widely regarded as the gold standard in digital asset storage, underpins its non-custodial wallet solutions. The computational processes that happen when one of DitoBanx’s customers sign a transaction will be distributed across the network. At no time during the signing of a transaction is a private key ever held in any one geographic location, eliminating the risk of that key being obtained or hacked by any third party. This addresses some of the biggest risks crypto investors face such as loss of their private keys.
As the first fintech startup in El Salvador, DitoBanx has quickly become a leading provider of digital asset solutions in the Latin American region. DitoBanx currently offers a range of products and services such as Bitcoin-backed loans, digital asset wallets and enterprise payment processing solutions designed to bring financial inclusion to the unbanked and underbanked individuals of Latin America. The integration of Qredo’s digital asset custody solutions into the DitoBanx ecosystem will allow customers to manage all of their financial assets within DitoBanx’s products, providing a secure yet frictionless experience.
Guillermo Contreras, CEO of DitoBanx said: “The partnership with Qredo is an exciting step for DitoBanx as we strive to bring financial services to the unbanked in Latin America. The ability to offer institutional-grade digital asset custody services will be a game-changer for our customers, enabling them to securely store and manage their digital assets in a regulated environment.”
Anthony Foy, CEO of Qredo said: “We are thrilled to partner with DitoBanx to bring institutional-grade digital asset custody solutions to the unbanked in Latin America. By leveraging Qredo’s cutting-edge dMPC technology, DitoBanx can now offer its customers secure and regulated digital asset services, enabling them to participate in the growing digital economy.”