As the Pioneer, ChainUp Custody has recently announced its support for BRC-20 ecosystem tokens, significantly expanding opportunities for exchange clients to aggregate BRC-20 ecological projects and capture user and traffic value. As a provider of enterprise-grade, one-stop digital asset custody services, ChainUp Custody stands out with its comprehensive product solutions and reliability, becoming the preferred choice for numerous institutional clients.

What is BRC-20?

BRC-20 is an experimental fungible token standard that utilizes ordinal inscriptions on Bitcoin. Ordinal inscriptions are a special type of script that assigns tokens to specific satoshis. BRC-20 tokens create semi-fungible tokens through ordinal inscriptions, meaning they are exchangeable but cannot be split or merged. The introduction of BRC-20 has sparked interest in using Bitcoin as a foundational layer. BRC-20 tokens are versatile and can be used for various applications, such as creating unique digital collectibles like art, music, or videos; developing in-game assets like characters, props, or currencies; and creating financial instruments such as collateralized loans and insurance. The public consensus on BRC-20 can be seen when the SATS token was minted out with a market cap of 19 million USD on the first day, which then reached an all-time high of 1.83 billion USD market cap. The overall market cap of the BRC-20 token was recorded at 2.8 billion USD by the 1st of February 2024, signifying the market demand and consensus in the BRC-20 ecosystem.

ChainUp Custody Supports BRC-20 Ecosystem to Drive User and Traffic Growth 

The BRC-20 ecosystem encompasses a wide range of digital collectibles, games, and financial services. ChainUp Custody's support for BRC-20 ecosystem token deposits and withdrawals brings several advantages to exchanges:

• More Trading Options for Users: By supporting BRC-20 token deposits and withdrawals, exchange users are provided with more trading options, enabling them to engage in a broader range of projects and ecosystems.

• Attracting More Users and Traffic: BRC-20 ecological projects hold significant positions in the blockchain industry with substantial user bases. Supporting these tokens can attract users interested in the ecosystem, increasing active user count and trading volumes for exchanges.

• Fostering BRC-20 Ecosystem Growth: By facilitating convenient deposit and withdrawal services for BRC-20 ecosystem projects, ChainUp Custody promotes their development and adoption, contributing to the growth of the ecosystem.

As an experienced digital asset custody service provider, ChainUp Custody is committed to providing comprehensive solutions and services to help clients succeed in the digital asset market.

Beyond BRC-20: Expanding Services at ChainUp Custody 

Apart from supporting the BRC-20 ecosystem, ChainUp Custody actively expands its service range to support other digital asset ecosystems' development. Previously, the ChainUp MPC wallet fully supported the Filecoin ecosystem, offering Filecoin node management and multi-signature wallet management functions, providing miners with an enhanced Filecoin asset management experience.

ChainUp Custody Solutions and Services

ChainUp Custody offers a variety of product solutions and services to meet the diverse needs of enterprise-level clients. These include:

• MPC Self-Custody: Utilizing Multi-Party Computation (MPC) technology to ensure user autonomy over private keys, guaranteeing the secure storage and management of digital assets.

• Unified Asset Custody: Providing enterprises with one-stop digital asset custody services, managing a variety of digital assets centrally, simplifying asset management processes, and enhancing efficiency and security.

• Compliance Custody: Digital asset custody services designed based on compliance standards, including Anti-Money Laundering (AML) and Know Your Customer (KYC) measures, ensuring the legality and security of client assets.

With its professional technical service experience and support from the SOC 2 security system control audit report, ChainUp Custody efficiently solves asset custody challenges for enterprises, offering compliant, secure, reliable, and stable digital asset custody services. Currently, over 300 enterprise-level institutional clients have chosen ChainUp Custody, which supports over 200+ main chains and 1000+ tokens.

To learn more about ChainUp Custody and how it can enhance your digital asset exchange, visit ChainUp's website for detailed information on its products and services.