Today, Delio, South Korea’s first leading cryptocurrency financial services provider, announced that it would develop a web 3.0 wallet backed by crypto. It is the only company that operates CeFi and DeFi services in Korea.
Delio’s Initiative In The Crypto World
In order to store virtual currency like Bitcoin and Ethereum, one needs a virtual asset wallet. Global tech giants such as Google and Samsung Electronics are fiercely competing to develop their own digital asset wallets, and Delio is not behind them. Recent market turmoil and cryptocurrency price drop have not created any issues for crypto-leaned companies to expand their sector.
In the era of 3.0, it is an excellent step for Delio and Korea’s crypto future. Besides being Korea’s first crypto bank, Delio is also a leading virtual asset service provider (VSAP) in the fields of digital asset deposits, rending, NFT (non-fungible token), and DEX (de-central exchange). It is already providing virtual asset wallet services to users. As the web 3.0 ecosystem and the business area gradually expands, it has begun to develop a new web 3.0 wallet system that enables integrated storage management, payment, and transaction between assets or from virtual assets, securities, and NFT in one wallet.
Delio’s web 3.0 wallet will be the first to be installed on the online ‘WIZWID’ shopping mall, following the acquisition process of ISI Commerce in the previous month.
Delio Is Leading The Role
Delio is offering further support as it aims to integrate the wallet into blockchain and non-blockchain-based systems for both local and international partners, including banks, online shopping malls, security companies, and exchanges. VASPs like Delio include digital asset exchanges such as Upbit and Bithumb. Being a VASP means Delio is a licensed cryptocurrency financial service provider under the supervision of Korean government financial authorities.
According to the Delio official, a digital asset wallet is an essential move in storing and managing a vast range of assets on the Web 3.0 platform. Furthermore, after Delio acquires ISE Commerce, the two business tycoons aim to secure new growth momentum based on the competitiveness of the Web 3.0 ecosystem.
Delio made its foray into the DeFi market in the second half of 2021 by launching Delioswap, a DEX (decentralized crypto exchange). Earlier, a Delio official said, “As the first company in the crypto depositing and lending sector certified by the Korean financial authorities, we increase customer trust. We are now planning to continuously acquire crypto related licenses in more jurisdictions in order to provide innovative services to more users in different jurisdictions.”
Technologies That Enhance Delio Crypto Wallet
The Delio wallet is managed and operated by Delio, Hexlant, and Ledger Vault. The industry’s best technologies were integrated to create the Delio wallet. Let’s look at its technologies.
Multi-Authorization System is a technology where the withdrawal of assets is executed through three authorization steps. Delio wallet boasts a more robust asset security system than other wallets because it enhances security through PIN with OTP authentication and requires user authentication through SMS verification when additional withdrawals are placed.
Multi-sig technology refers to a process of generating three private keys in the Bitcoin family, and at least 2 of them must be signed before a withdrawal is made. Thus, it prevents accidental withdrawal or individual stealing of virtual assets and is tested as safe unless all the keys are hacked.
Delio Global has made its root stronger in the crypto ecosystem as its digital wallet ensures complete security. It has become user-friendly, and the crypto community favors it. Through this innovative development, it is expected that Delio will be a formidable competitor in the crypto industry, and it will help the company to expand its offerings worldwide.