USE CASE
Empowering investors: Gray Digital’s proactive approach to protection with Coincover
Differentiating in the web3 space is challenging but essential to stand out and capitalise on the opportunity the market presents. To do this, asset manager Gray Digital has implemented Coincover to complete its security tech stack. Providing their business with comprehensive protection that supports their goal of creating a service built on the principles of transparency and security.
"We chose Coincover because of their prevention & cure approach - it's exactly what we need." - Tammy Paola, Chief Operating Officer at Gray Digital
About Gray Digital
About Gray Digital and their mission
Gray Digital is redefining the financial landscape by providing institutional quality investment services for high-net-worth and retail customers. Founded by Nathan Gauvin in 2022, the company emerged from a desire to make high-quality financial products more accessible to a broader audience.
Recognising that many traditional funds were typically only accessible to accredited investors at entry points ranging from $1 million to $5 million. With deposits made predominantly in fiat currency, Gray Digital saw an opportunity to build a solution for future investors centred around offering barrier-free access to multiple proprietary trading and investment tools across traditional and decentralised markets.
"Providing interested young investors with accessible and comprehensive knowledge of cryptocurrency presents a unique opportunity to foster financial independence and drive innovation. As digital natives, they are ideally positioned to leverage the transformative potential of crypto, fueling economic growth and contributing to the evolution of decentralised financial systems."
Nathan Gauvin
Chief Executive Officer at Gray Digital
Gray Digital aims to provide investors, regardless of investment value, with institutional-grade products and services. It ensures that every user receives equal access to protection, knowledge, and support, making sophisticated financial strategies available to everyone to level the playing field in finance.
“By making cryptocurrency understandable and attainable, we empower the next generation to achieve personal financial freedom and catalyse significant advancements in the global economy.”
Nathan Gauvin
Chief Executive Officer at Gray Digital
The challenge
A new market with new risks
Offering accessible digital asset investment products presents a great opportunity to capitalise on an untapped portion of the market, but as Gray Digital quickly identified, the digital asset space is not without risk.
Safeguarding solutions that investors have become accustomed to in traditional financial markets are not as developed or as readily available for cryptocurrency. An evolving risk landscape means that there are significant cyber threats attempting to steal user funds. The operational burden of providing custody of funds and managing private keys for access is cumbersome and, if managed poorly, can result in lost access. There is also an education requirement for new entrants to crypto in order to understand the tools they are using and avoid user error.
The solution
A protection solution fit for purpose
To mitigate these risks and offer customers a product that bridges the gap between traditional and digital finance, Gray Digital is building its business around the principles of transparency, security, and operational efficiency. It is implementing a suite of solutions to provide an offering that customers can trust and use with confidence.
Beginning with the foundational deployment of MPC wallet technology, for easy and secure custody management, settlement, and issuance, Gray Digital has continued to introduce complementary solutions to its tech stack. With AML transaction checking provided by Chainalysis and regular audits of the smart contracts utilised by Gray Digital.
On top of the robust security measures already in place within their tech stack, they recognised the need for an additional layer of protection to ensure a holistic approach to risk mitigation. Using Coincover to seamlessly integrate with Gray Digital’s operations, Coincover provides a non-custodial disaster recovery solution for their private keys, removing the risk of permanently losing access to their wallets.
Loss of access isn’t the only threat Gray Digital guards against; by integrating Coincover’s risk engine, they monitor outgoing transactions in real time to actively identify and mitigate threats before they can cause harm. Coincover provides a complete defence, acting as both prevention and cure for complete peace of mind.
"We chose Coincover because of their prevention and cure approach - it's exactly what we need. Our partnership will allow Gray Digital to offer an enhanced level of protection. It will also enable us to continue pushing the boundaries of what's possible in the digital world while ensuring our customers' assets are always secure.”
Tammy Paola
Chief Operating Officer at Gray Digital
By prioritising transparency, education, operational efficiency and now comprehensive security measures, Gray Digital can provide their customers with a trusted investment environment they can use with confidence.
You can visit their site here to see what Grey Digital has been building.