Gem Picks Elliptic to Strengthen Bitcoin Wallet Security
Elliptic to offer insured storage of third private key in multi-signature wallet.
Elliptic will serve as an independent and secure third party, holding on to one of the three keys that multi-signature bitcoin wallets have.
Gem, Elliptic and the client will each hold a key. If the client loses their key, Gem and Elliptic will use their keys to move the funds into a new account.
"By combining Gem's API platform with our insured and accredited key storage service, a new bar has been set for multi-signature wallet security and usability," said James Smith, Elliptic CEO, in a statement.
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