Giesecke+Devrient (G+D) has introduced Convego TruSafe, an innovative solution that enables financial institutions to take advantage of the growing market for digital financial assets. With the expansion of these assets and an increasing number of retail investors, Convego TruSafe offers secure and advanced access for the management and recovery of these assets.
Convego TruSafe is a modular solution that combines a digital interface with a smart card, functioning as a cold storage wallet. G+D has used its vast experience in SecurityTech to develop this solution, in collaboration with eSignus, known for its specialization in digital assets.
According to Jukka Yliuntinen, Head of Digital Payment Solutions at G+D, “Financial institutions have the opportunity to improve their relationships with their customers by offering them secure management of digital assets and paving the way for widespread adoption.”
Opportunities and Challenges of the Digital Asset Market
The Next Generation of Digital Wallets Report highlights that secure digital asset custody services can be extremely lucrative for financial institutions, providing an opportunity to attract new customers and generate recurring revenue. However, the accelerated growth of digital assets, such as cryptocurrencies, brings with it several challenges. Users often face a steep learning curve and the fear of losing their investments if they misplace their passwords.
Called Convego TruSafe, it combines a mobile app and a cold storage wallet
The report also notes that using cold wallets, such as USB devices for storing keys offline, can be intimidating. Key management, while ensuring ownership of assets, carries the risk of permanent loss if the recovery mechanism (typically a 12/24 word phrase) is lost. As such, there is a high demand for solutions that are easy to use and offer protection against lost or stolen credentials.
In this regard, Convego TruSafe offers a robust safety net against losing access to digital assets. Its unique recovery mechanism allows users to confidently navigate the world of digital assets. Even if the card is lost, users can request a new one, authenticate via the mobile app, and easily reactivate the new card to regain access to their digital assets.
