Singapore-based fintech start-up TrustVerse announced on Monday that it has partnered with R3 Network to launch ‘MasterKey,’ a digital asset and wallet recovery service. Initially, MasterKey will be launched in Hong Kong, also in partnership with KOSCOM, a fintech joint effort by the Ministry of Finance and the Korea Exchange.
[Partnership] TrustVerse partners with R3 to Launch “MasterKey” digital asset & wallet recovery service.
— TrustVerse (@TrustVerse) June 29, 2020
TrustVerse is a blockchain-based fintech company that offers decentralized financial applications to protect and manage digital asset class and asset tokenization. The company’s latest product, the MasterKey wallet recovery service allows users to protect their private keys. It will help users to protect a number of digital assets like real estate ownership, intellectual property rights, crypto assets, etc.
Commenting on the partnership, TrustVerse CEO Michael Kiook Jeoung said that with the help of R3’s Corda Enterprise, they will be able to deliver a highly trustworthy digital asset service, and the partnership will allow them to reduce operational costs and risks. Along with R3, Michael said, they intend to bring practical applications of blockchain to the world. Chief Revenue Officer at R3, Catherine Minter said,R3 is one of the premier enterprise blockchain solutions companies in the world. It has over 350 participants on its Corda blockchain network around the globe, spanning across a wide range of industries, including financial services healthcare, shipping, insurance, etc.