Being one of the top performing coin in 2018, managing your crypto funds requires extra attention. Despite experiencing a 70% downturn in the crypto markets, Mithril maintains above their ICO price, up over 300% (as of 2018-09-26) and ranks top 50 on CoinMarketCap in a span of a few months. With their LIT app, MITH’s community continues to grow as more mainstream users are intrigued with the concept social mining.
When asking founder, Jeffrey Huang, what are some keys to their success, he mentioned treasury management of their crypto as being a major factor. During Consensus Singapore, CZ, CEO of Binance, also mentioned the importance of finding a third-party service provider to handle the custody. This way, blockchain companies can focus on building great social and tech experiences rather than having to worry about market movements.
Announced earlier today, Mithril was selected as the first client to on-board Formosa Financials’ private beta services. Formosa Financial, a digital asset management platform address issues of managing crypto funds efficiently with the following points:
- Making sure post-ICO companies obtain the best wholesale rates and funds are secured at all times
- Receiving interest income and lending channels to meet both short term and long terms operational needs
- Providing a single access point to multiple top exchanges and OTC trading pools without repeating KYC
Digital asset management is one of the biggest unsolved opportunities in the blockchain space. Bringing new digital asset management solutions to blockchain projects will mitigate operational risk and optimize treasury management, allowing teams to focus on building their products and services.
