KILT Protocol Partnering with Bitcoin Suisse for Custody and Brokerage Services
In a major development in the world of cryptocurrency, Bitcoin Suisse has announced its support for KILT as part of their offering for institutional investors. This makes Bitcoin Suisse the first custodial crypto-financial services provider in the world to offer institutional users secure access to the KILT blockchain.
KILT is a blockchain identity protocol that allows for the creation of self-sovereign, decentralized identifiers and verifiable credentials. The network is powered by its native token, KILT, and offers secure identity solutions for both enterprises and consumers as a fundamental layer for Web3.
📢 We now offer #custody, #brokerage and #governance voting for @Kiltprotocol, an identity blockchain built on @Polkadot. 🚀#KILT allows enterprises, governments and startups to build trusted digital identity solutions at scale.
Check out more 👇https://t.co/6LkshNUHtq
— Bitcoin Suisse (@BitcoinSuisseAG) March 28, 2023
The KILT Protocol was one of the first projects to build on Substrate, a modular blockchain system that offers seamless integration with Polkadot. In September 2021, KILT launched as a Kusama parachain, and in October 2022, became the first blockchain in the ecosystem to move in its entirety from Kusama to Polkadot in order to leverage the stability and bank-level security required by enterprise customers.
According to Dr. Dirk Klee, CEO of Bitcoin Suisse, the addition of KILT to their Vault will provide their institutional clientele with access to an identity token that has exciting use cases across financial services and KYC, media, gaming, music, NFTs and IoT. He went on to say, “Identity is a critical layer for Web3, and KILT Protocol is leading the way to widespread adoption of Web3 and decentralized technologies. Consumers are increasingly demanding more autonomy and control of their data across all facets of their digital lives.”
The offering includes custody and brokerage of KILT, as well as governance voting, and is geared towards organizations, external asset managers, and family offices.
This announcement is significant because it highlights the growing importance of blockchain identity protocols and their potential use cases across a variety of industries. With the support of Bitcoin Suisse, KILT is well-positioned to gain further adoption and usage by institutional investors, furthering its goal of becoming a fundamental layer for Web3.
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