Triton’s Next Pick: Qredo
Meet Qredo, the world’s most advance, institutional grade secure Qredo Wallet that offers a safe and secure trading in crypto assets. In this report herein, we aim to share with our audience on the motivations behind our recent investments in Qredo.
The recent 2020–2021 marked the advent of institutions into the cryptocurrency world. Back in 2017, this would have been phenomenal. Now, it is a dime a dozen, almost every company wants to hold Bitcoin et al. in order to gain some exposure to this new asset class. Corporate treasuries including Microstrategy and Tesla now hold billions of dollars in Bitcoin on their balance sheets. ETFs are multiplying in Canada, Europe and even South America. Greyscale manages over $20 billion in BTC. And this is just what’s known to the general public.
As fiduciaries who are legally responsible for the client’s hard earned money, they must demonstrate that they have secured their assets under proper and safe custody. In crypto, this means that they have total control over the private keys. If they are stolen, all of the assets are compromised. Case-in-point: Mt. Gox, Cryptsy, Bitstamp, etc.
The use and care of private keys are then fraught with risks, even for the power-users of crypto.
The solution seems easy right? Why don’t we jut use DEXes?
How we wish it was that simple too.
A big hurdle to a more widespread decentralized trading is the difficulty and costs of cross-chain swaps. Whilst swapping BTC to ETH on Binance might be a breeze, it remains a nightmare (in terms of cost, time, effort) at any DEXes. As a result, this remains one of the biggest pain point of the crypto industry. If we let the management of private keys to centralized institutions, are we in the end truly decentralized? As you can see, it’s a forever never ending debate.
This is where Qredo comes in. Born back in Q4 2018 during the crypto winter season, Qredo closed a whopping $ 2.9 million pre-seed funding round. A fully decentralized custodian protocol, it addresses all of the problems cited above, by :
Decentralizing delegation of cryptocurrency asset management
By replacing centralized private keys with a consensus-driven MPC protocol, Qredo enables the transfer of portable ownership rights across chains on a Layer 2 network, without counterparty risk.
This creates the ideal trading conditions for institutions, which can delegate capital to multiple exchanges from a single pool of collateral held in their Qredo wallet, map asset controls and custodianship to organizational requirements, and record all activity on-chain in immutable regulatory audit trails for easy compliance.
Proposing lower-cost transactions by encouraging more assets to live on their blockchain
In short, they do this by simply transfering any blockchain asset between one another using their own stand-alone fork of the Tendermint blockchain. #thenetworkisthevault
Where are they right now? Simply said, they are busy delivering value, fast.
- Qredo is now live with cutodial and transactional support for > 15 tokens on their v1 mainnet, and recently raised ~ $ 11 millions to support their continued focus on providing a comprehensive platform designed to unlock new opportunities for the institutional investors.
- Their fully developed mobile app is now fully functional. Have you tried it? Amongst the best in the crypto world currently from our observation.
Feel free to consult our 8-minute video guide on the Qredo wallet that was developed by one of our Analysts.
3. They have a clear roadmap.
No explaination required here. You can’t get to where you want to be if you haven’t defined it in the first place itself.
Core Executive Team & Backers — Who is supporting them?
“For those who believe, no proof is necessary. For those who don’t believe, no proof is possible”- Stuart Chase
From our analysis, Qredo is strong from both the inside and outside. Strong team, that’s backed by strong supporters.
- Led by credible team members with more than 20+ years of experience in the industry
2. Trusted by prominent big crypto institutions:
3. Backed by the crypto industry’s finest venture capital firms (Seed round where they raised ~ 11 million USD)
Qredo is a cross-chain liquidity protocol that enables trade credit to be granted between counterparties pre-trade, removing counterparty and settlement r isk. Digital assets are secured with consensus-driven MPC on a Layer 2 network, delivering institutional-grade access to DeFi for OMS/EMS vendors, custodians, exchanges, and traders.
With more and more insitutions entering the space, Qredo effectively solves a pain point that has stiffled the growth of the industry. The v1 platform is already up and running smoothly, and further development work is on its way. The recent hype sheds light on the company’s future prospect, but from our experience only time will tell what adoption will look like.
For more information on the latest news of the crypto world, feel free to join our free public CryptoTritonsTelegram group.
This report is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Past performance of any asset is not indicative of future results. Triton Group’s members have invested in Qredo during the recent Coinlist’s token sale event.