TokenSoft, a platform for issuing digital securities using blockchain technology, is tapping into Israel’s experience in cybersecurity, having signed a new partnership with ex-military Cyber firm Hub Security.
Effective today, clients of TokenSoft’s transfer agent, DTAC, will leverage Hub Security’s miniHSM solution, which provides token issuers with a cryptographic environment for the whole lifecycle of digital assets. Among other things, miniHSM helps companies grappling with the threat from organised crime and hackers through enforcing end-to-end encrypted USB and wireless Bluetooth connectivity, making its endpoint usage accessible.
miniHSM also provides TokenSoft customers with a management solution that implements Hub Security’s HSM device and independent OS for the encryption, management, and distribution of keys.
“HUB Security’s end-to-end approach to the development and delivery of its hardware and software components ensures the highest level of security throughout the entire product lifecycle. COVID-19 prevents people from coming to work and operating the on-premise security systems that control large amounts of assets,” said Eyal Moshe, CEO of Hub Security.
FIPS140-2 Level 4 protection
A series of high-profile cyber-attacks over the last few years, including breaches at top crypto exchanges such as Binance, pushed cybersecurity up the corporate agenda.
HUB Security is touting its miniHSM solution as offering military-grade cybersecurity tactics, including FIPS140-2 Level 4 protection. Built for the use of blockchain-based products, the product offers a combination of hardware and software solutions, including a multi-signature vault, hardware firewall, access control, and a neural network learning system designed to anticipate cyberattacks.
TokenSoft, which is a blockchain company specializing in security token issuances, acquired a stake in an SEC-regulated firm in a move that will clear the path for it to operate as a registered broker-dealer. The acquisition puts the company on a firmer regulatory footing and positions it to offer a broader range of blockchain-based securities. It also allows the platform to perform all operations in a regulatory compliant manner.
“In an era lacking institutional-grade technology solutions for security tokens, we’re delighted to partner with Hub Security to offer TokenSoft customers the most advanced key management solution available. TokenSoft continues to hold customer security as a key priority. TokenSoft’s new partnership with Hub Security allows us to provide members with top-tier, military-grade protection for their tokens, keys and assets –– accessible from anywhere in the world,” added Mason Borda, TokenSoft’s CEO.