Matrixport Integrates Cactus Customer with NEAR Protocol to Enhance Institutional Clients’ Confidence in Protecting Their NEP-141 Tokens

According to reports, Matrixport, a crypto financial services company under Wu Jihan, announced the integration of its institutional qualified custody service Cactus Customer with the Layer 1 blockchain ecosystem NEAR Protocol. All Matrixport services on Cactus Customer will seamlessly support the NEAR protocol. It is reported that institutional clients will increase their confidence in protecting their native NEP-141 NEAR protocol token assets. In addition, NEP-141 compatible projects will also optimize DeFi operations, further promoting growth through Cactus Customer’s DeFi connectivity solution. （Crowdfundinsider）

Integration of qualified hosting services Cactus Customer with NEAR Protocol

In a recent announcement, Matrixport, a crypto financial services company under Wu Jihan, revealed that it has integrated its institutional qualified custody service Cactus Customer with the Layer 1 blockchain ecosystem NEAR Protocol. The integration enables all Matrixport services on Cactus Customer to seamlessly support the NEAR protocol, facilitating the protection of native NEP-141 NEAR protocol token assets for institutional clients.

What is NEAR Protocol?

NEAR Protocol is a decentralized blockchain platform for building scalable and interoperable decentralized applications (dApps). It utilizes a sharded architecture that divides computation and data storage across multiple nodes, enabling high transaction throughput and low latency. The platform also features a secure and flexible smart contract language called AssemblyScript that compiles to WebAssembly. NEP-141 is a token standard on the NEAR Protocol that supports non-fungible tokens (NFTs), fungible tokens, and tokenized assets.

Cactus Customer’s Role

Cactus Customer is Matrixport’s qualification custody service that is designed to meet institutional-grade security requirements. It offers a secure storage solution for digital assets such as cryptocurrencies and tokenized assets, ensuring that they are protected from hacks and thefts. The integration of Cactus Customer with NEAR Protocol enables institutional clients to store their native NEP-141 tokens in a highly secure environment, mitigating the risk of loss or theft.

Optimizing DeFi Operations with NEP-141 Compatible Projects

NEP-141 compatibility enables DeFi projects to perform operations on the NEAR Protocol, opening up new possibilities for growth and innovation. Cactus Customer’s DeFi connectivity solution further promotes this growth by making NEP-141 compatible projects more accessible to institutional clients. By bridging the gap between institutional-grade security and the rapidly evolving DeFi ecosystem, Matrixport enables institutional clients to tap into the fast-paced growth of DeFi while maintaining the highest security standards.

Conclusion

The integration of Cactus Customer with NEAR Protocol marks a significant step towards enhancing institutional clients’ confidence in protecting their native NEP-141 tokens. The combination of Matrixport’s institutional-grade security and NEAR Protocol’s high transaction throughput and low latency offers a compelling solution for institutional clients seeking to explore the benefits of decentralized finance. With NEP-141 compatibility and Cactus Customer’s DeFi connectivity solution, Matrixport is well-positioned to support growth and innovation in the DeFi ecosystem.

FAQs

Q: Who is Wu Jihan?
A: Wu Jihan is a Chinese entrepreneur and co-founder of Bitmain, a leading manufacturer of cryptocurrency mining hardware.
Q: What is a sharded architecture?
A: A sharded architecture is a method of distributing data across multiple nodes or shards, enabling a system to handle a large volume of data and transactions.
Q: What is AssemblyScript?
A: AssemblyScript is a secure and flexible smart contract language that compiles to WebAssembly, a low-level virtual machine designed for executing code on the web.