Crypto Wallet Firm Fordefi Expands in Indonesia Powering Pintu Web3 Self-Custodial Wallet

Fordefi intends to expand the reach of its product, primarily employed by institutions like Pantera Capital and market maker Keyrock, to retail investor platforms and exchanges.

As a researcher studying Fordefi’s innovative technology, I can explain that Pintu’s massive user base of 20 million individuals will gain the ability to securely self-custody their digital assets and interact with decentralized applications. Under the hood, Fordefi’s technology will provide this functionality. Additionally, users will enjoy enhanced security features like transaction simulations and risk alerts to protect their investments.

As an analyst, I would describe it this way: I work with Fordefi, a company dedicated to enhancing crypto security. Our self-custodial wallet employs multi-party computation (MPC) technology, which disperses a single private key among various parties. By doing so, we eliminate the risk of having a singular point of failure. MPC wallets are more challenging for hackers to penetrate and using them reduces the interaction risks when engaging with DeFi applications.

As an analyst, I’d rephrase it like this: I’ve identified several institutional investors, including Pantera Capital, DeFiance Capital, Keyrock, and Flare Network, who have joined the company’s wallet offering. Additionally, we’ve secured a $10 million investment from venture capital firms, with Electric Capital leading the round earlier this year.

In his statement, Josh Schwartz, CEO of Fordefi, expressed concern over the absence of safety measures and boundaries for individual investors in Web3, thereby hindering its widespread adoption. However, with Fordefi, he emphasized that merchants can tap into the same robust security framework relied upon by leading market players.