The application is now available to users in the UK market and can be bought in the Apple App Store. The news comes from Finance Magnates. As of now, users who download the app will be able to store only Ether, but the company plans to integrate the necessary features for Bitcoin and different ERC-20 tokens as well.
Trustology is a UK-based blockchain company that helps businesses and individuals store their digital assets safely. The company was founded in 2017. The founding team is comprised of tech and financial services experts.
The company raised $8 million from investors such as Two Sigma Ventures and ConsenSys.
According to a news from Finance Magnates, this is what the CEO and founder of Trustology, Alex Batlin, said about the new platform:
It allows you the ease of a mobile phone, but really what we always talk about is a TrustVault account. If you mention the phone, people think it’s just a phone app. But that’s a bit like saying my bank account is just the mobile bank app. It looks like a simple app, but the real power is in the service behind that.
The more interesting part about the iPhone platform is that the private key for the user’s wallet is not stored on the physical device (the phone), so if the phone is stolen, there is no loss of funds.
Mr. Batlin also commented that the storage might be available for several Android-based devices, but only to a select few. The reason for that is the special Titan M chip embedded in the platform, which is very secure. So there will be a careful selection at which devices will be able to “hold” the storage application.