SwissBorg leverages Cordial Systems to secure customer assets
New York, New York, December 18th, 2024, Chainwire
Cordial Systems, a leading provider of institutional-grade self-hosted wallets, has deployed its Cordial Treasury product at SwissBorg, a regulated crypto exchange based in Switzerland with billions of dollars in customer deposits.
As a leading crypto exchange, SwissBorg offers 16 fiat currencies, providing Europe with the widest onramp to the crypto market. When it comes to buying, selling, and trading cryptocurrencies, SwissBorg also wants to offer a wide universe of investment options. The Cordial Treasury product, with over 40 supported blockchains and all the tokens on top, was a natural choice for supporting the business with its extensive list of cryptocurrencies.
New Asset Support
Not just for today, but also for tomorrow. SwissBorg has a mission to democratize wealth management, that includes offering new investment opportunities as new cryptocurrencies launch in the future. With Cordial Treasury, any blockchain can be added in 1-2 weeks by the Cordial Systems team, a protocol foundation, or a customer-side developer using Cordial’s open-source Crosschain library to enable secure storage and staking for yield capabilities. This unlocks a lot of efficiencies for SwissBorg when it comes to its coin listing program. Significantly reducing the implementation time, and increasing the ability to act on new revenue opportunities quickly.
“Cordial helped to scale our asset support, and comfortably proved their ability to add new blockchains in 1 week; it was more like 2 days in the case of the Enjin blockchain.” – Nicolas Rémond, CTO, SwissBorg
“We are delighted to work with SwissBorg. They epitomise what it is to be a successful crypto exchange, while continuing to innovate and take an exemplary approach to securing their customer assets. Cordial looks forward to working with SwissBorg further and is the latest household name in the growing number of exchanges that we work with.” – Nicolas Stalder, CEO, Cordial Systems
Deployment model
SwissBorg also follows a strict framework for securing customer assets which is informed by their various regulatory licenses and their high security posture. Cordial Treasury is unique in its ability to offer industry-standard MPC wallets in a self-hosted manner while following a Zero Trust security model. Meaning, SwissBorg controls all security-critical elements in their corporate network on their dedicated infrastructure. Everything from key shares to policies, and the server running the software – which has also been co-deployed with Kiln for further operational resilience.
With SwissBorg in complete control of their setup, Cordial Systems is only responsible for code maintenance and some small microservices that enhance the product but are not security-critical. This is more palatable to large organizations that have historically been faced with service providers proving to be a heavy third-party dependency and that operate as a black box.
“Being in control of all security elements and service availability is a huge advantage for us in working with Cordial. We also have a great solution now for the dreaded question: “what if my provider disappears tomorrow”, our business continuity planning couldn’t be stronger.” – Nicolas Rémond, CTO, SwissBorg
About Cordial Systems
Cordial Systems provides institutional-grade self-custody wallets utilizing a zero-trust security model. Through the Cordial Treasury product, institutions can store and stake digital assets across 40 different supported blockchains and easily add more. Only Cordial can empower financial institutions with a high-security posture to own and control the entire wallet solution and minimize vendor-side dependencies. Ensuring the highest levels of confidence when it comes to managing the security, data, and workflows of their digital asset operations while keeping up with an ever-evolving asset class.
About SwissBorg
SwissBorg is the leading community-driven crypto wealth management platform, engineered in Switzerland and licensed in the EU. Committed to trust and transparency, SwissBorg is on a mission to democratize the future of finance for everyone. At its core is the groundbreaking Smart Engine, which seamlessly connects to centralized and decentralized exchanges to secure liquidity and prices for users. Beyond trading, SwissBorg offers curated yield strategies through decentralized finance (DeFi) and empowers users to access early Web3 opportunities through its Alpha Pre-Sales and BorgPad launchpad. Swissborgs’ token, BORG, sits at the heart of their ecosystem providing a multitude of benefits to its holders.
About Kiln
Kiln is the leading digital asset rewards management platform, enabling businesses to earn rewards on their digital assets, or to whitelabel earning functionality into their products. Our platform is API-first and enables fully automated validators, rewards, and data and commission management. With over $13 billion in crypto assets being programmatically staked, Kiln has a particularly strong track record on Ethereum as we run about 4.3% of the network; this includes 50,000+ active validators with 0 slashing events. Kiln is SOC2 Type 2 compliant.
Media Contact
Sebastian Higgs, Cordial Systems, (302) 310-4522, pr@cordialsystems.com
Daniel Stokes, SwissBorg, daniel.stokes@swissborg.com
