Crypto Wallet For Digital Asset Enterprises Released By Penta Security

News | March 19, 2019 By:

Penta Security Systems has released an advanced cryptocurrency wallet tailored for digital asset enterprises.

Penta Security Systems is an information technology (IT) security firm headquartered in Seoul, South Korea. It offers web application security, database security, and single sign-on solutions. Most recently, the company has revealed plans to develop and implement a blockchain-based data market for automobile data.

The new crypto wallet, called PALLET X, is designed for digital asset companies, such as crypto exchanges and payment service providers, in need of secure, effective, and practical wallet management. The new multisignature wallet features a proprietary cryptographic module developed in compliance with BIP-32/39/44 standards for third-party wallet compatibility, and a Hardware Security Module (HSM) to provide a fully trusted environment for wallet generation and management. It also includes Shamir’s Secret Sharing for privacy-enhanced recovery phrase storage and biometric authentication.

PALLET X is available as a server-type hardware appliance that provides reliable hot storage, with the option of cold wallet integration. Penta claims that several Korean exchanges have already deployed PALLET X to strengthen their wallet security.

“With global IT giants accelerating blockchain adoption, we expect growing demand for enterprise-ready security solutions,” said DS Kim, Chief Strategy Officer of Penta Security Systems. “As a recognized leader in encryption and as Asia’s top cybersecurity vendor, we embrace this momentum by launching our wallet security platform that stands out for providing total security across operational environments, from client to server.”