Elliptic and Gem announces partnershipbr>
“Elliptic is the most trusted name in private key storage and our tight integration means that there is no single point of failure for Gem’s multi-signature wallets,” said Gem CEO Micah Winkelspecht.
In the new partnership, Elliptic will act as a trusted and independent third party to provide insured storage of the third (backup) private key. Gem, Elliptic and the client will each hold one of the keys. If the client loses their private key, Gem and Elliptic will use their private keys to sweep funds into a new account.
Elliptic is a full-service bitcoin custodian for the capital markets. Gem is a platform for blockchain developers and a multi-sig Bitcoin security provider.