TrustVerse partners with R3 to Launch “MasterKey” digital asset & wallet recovery service

TrustVerse
3 min readJun 29, 2020
R3 and TrustVerse Partner

TrustVerse (WealthTreeSG Pte. Ltd.) is a Singaporean digital finance fintech startup, which focuses on offering trusted digital finance applications that protects and manages digital asset class and tokenization of assets.

They have recently launched a blockchain-based application named “MasterKey” — a digital smart wallet recovery service that helps users to protect their private keys. While many users benefit from the convenience of having a digital smart wallet on their phones, the consequences of loss, damage, or theft from losing their private keys under unexpected situations can be devastating. MasterKey allows all of the user’s digital assets — including real estate ownership, intellectual property rights, and all types of cashable assets — to be recovered.

MasterKey is the world’s very first non-custodian service which combines ledger distribution algorithm, cryptography blockchain and cloud computing architecture to offer its service. The service will launch in South Korea in partnership with KOSCOM, a financial IT company launched by the Ministry of Finance (MOSF) and the Korea Exchange (KRX). This was the first ever digital finance blockchain solution announced by KOSCOM, further showcasing where blockchain can be necessitated for real security and protection of valuable assets.

For its core blockchain infrastructure, TrustVerse has migrated its MasterKey service from HyperLedger Fabric to R3’s Corda Enterprise, an enterprise blockchain platform which offers features and services fine-tuned for modern-day business. Designed and built with highly regulated industries in mind, Corda Enterprise is then easily integrated and deployed with KOSCOM’s financial cloud infrastructure, which helps financial institutions and individual customers to safely protect their private key and digital assets.

TrustVerse will be offering its global version of MasterKey internationally purely on Corda Enterprise. Such service will be available for both institutions and individual customers.

TrustVerse CEO, Michael Kiook Jeoung mentions “With R3’s Corda Enterprise platform, delivering unprecedented levels of trust is possible as a digital asset service provider, and it also allows us as a scalable startup to reduce operational cost and risk by streamlining complex, multi-party transactions. Furthermore, through this partnership, we will bring practical blockchain innovation to worldwide”

Catherine Minter, Chief Revenue Officer at R3 said: “We are excited to partner with TrustVerse as it launches its MasterKey digital asset and wallet recovery service. The migration of MasterKey to Corda Enterprie enables TrustVerse to benefit from increased security, efficiency and unprecedented trust. What makes Corda unique is the fact that it is built by leaders in business, for leaders in business. We believe that this collaboration with TrustVerse will further showcase the potential of blockchain technology and drive innovation to the industry for years to come.”

About TrustVerse

TrustVerse has been founded in 2018, Singapore as its HQ and its R&D center in Seoul, Korea. Company offers multiple blockchain and AI applications, they have partnered with Samsung Blockchain to offer services like “Jupiter” digital asset market analytics and “MarS” wallet for keeping digitized asset. They are official partner with UNESCO HQ. Learn more at www.trustverse.io

About R3

R3 is an enterprise blockchain software firm working with a global ecosystem of more than 350 participants across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage. R3’s global team of over 300 professionals in 14 countries is supported by over 2,000 technology, financial, and legal experts drawn from its vibrant ecosystem.

The Corda platform is already being used in industries from financial services to healthcare, shipping, insurance and more. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com and www.corda.net.

Disclosure can be found at Xangle Platform: TrustVerse — Partnership with R3

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TrustVerse

Universe of trusted digital asset service applications on blockchain