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ChainUp Custody Strengthens Bitcoin Ecosystem Asset Management through B² Network Partnership
18 Jun 202417:18

ChainUp Custody, an award-winning institutional custody in digital asset servicing, is joining forces with Bitcoin Layer 2 (L2) B² Network. This collaboration will integrate ChainUp's Multi-Party Computation (MPC) asset co-management solution into B² Network's infrastructure, enhancing security and efficiency for Bitcoin L2 and sidechain projects.

Addressing the Need for Secure BTC L2 Asset Management

The growing popularity of BTC L2 solutions demands robust asset management. ChainUp's BTC L2 co-management solution enables projects to effectively manage BTC, BRC-20, and ARC-20 assets, fostering trust among BTC holders and investors.

Triple Protection for Secure Crypto Asset Management

ChainUp's solution offers threefold protection for efficient and secure management of crypto assets across L1 and L2:

  1. Advanced MPC Technology: Eliminates single points of failure with institutional-grade security 3-3 threshold signature scheme.

  2. Multi-Party Authorization: Requires joint authorization for transactions, preventing unilateral control.

  3. Comprehensive Custody Solution: Employs multi-signature verification, Hardware Security Modules (HSM), cold wallet solutions, and AML services to ensure compliance and safeguard funds.

Building Trust for B² Network BTC Holders: How it works

Deposit and withdrawal processes of BTC L2 custody solution

Deposit: BTC holders deposit BTC into ChainUp's custodial wallet.

Confirmation: B² Network confirms the deposit amount, allowing BTC holders to participate in L2 stakings.

Withdrawal: BTC holders initiate unstaking on B² Network, confirm the withdrawal amount with ChainUp Custody, and BTC will be transferred back to holders.

Security: The withdrawal process involves dual authorization and automatic burning of staked tokens on BTC L2 for ensuring security and asset liquidity management.

ChainUp's Continued Support for Bitcoin Ecosystem Growth

ChainUp is a pioneer in offering BRC-20 token custody services. Additionally, the company is committed to providing early liquidity support for high-quality Bitcoin ecosystem projects, accelerating their growth and promoting the overall prosperity of the Bitcoin ecosystem.

About ChainUp Custody

ChainUp Custody is a leading provider of digital asset custody solutions, dedicated to securing and supporting blockchain innovations. With multiple international security certifications, including SOC2 Type I, SOC2 Type II, ISO/IEC 27001, 27017, and 27018, ChainUp Custody offers reliable services that cater to the needs of the evolving bitcoin market.

About B² Network

B² Network is a pioneering blockchain network that focuses on providing secure and scalable solutions for Bitcoin layer 2 and sidechain projects. By partnering with top-tier custody providers like ChainUp Custody, B² Network aims to create a secure and trusted environment for Bitcoin investors and project founders.

 

Contact us to learn how ChainUp Custody helps in your Bitcoin L2/Sidechain project
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