Bitcoin Suisse Vault taps Polkadot governance features

abdelaziz Fathi

Bitcoin Suisse has added support for Polkadot protocol governance on its proprietary, hyper-secure cold storage solution, the Bitcoin Suisse Vault.

Polkadot’s governance process is the most sophisticated governance system in the blockchain ecosystem, incorporating knowledge from many fields to enable stakeholders to vote on both community proposals and upgrades to the network.

With an easy-to-use proxy account setup from the Bitcoin Suisse Vault interface, clients who hold DOT, KSM and CFG tokens in the institutional-grade custody for crypto assets can participate in Polkadot’s on-chain governance structure. This new feature is also available for the growing number of parachains connected to the Polkadot network.

Polkadot protocol governance has 3 arms — council, technical committee, and the community. Clients benefit from a customizable multi-sig signing process to serve the needs of both corporate and financial institutions as well as private investors.

Markus Perdrizat, Head of Custody at Bitcoin Suisse, commented: “To advance the Web3 ecosystem, on-chain governance is key. It is essential for us at Bitcoin Suisse to offer access to on-chain governance for the clients of our institutional-grade Vault solution, since this is a very fast-growing space. The Bitcoin Suisse Vault was already the first solution to offer DOT custody and staking services in June 2020, so this new feature is a clear continuation of our tradition of staying at the forefront of technical innovation.”

Kasper Jorgensen, CFO at the Web3 Foundation in Zug, added “On-chain governance is a key component within Polkadot,  ensuring all decision-making processes of the network continue to be as decentralized as possible including decisions on forkless upgrades and treasury proposals. We’re pleased Bitcoin Suisse clients are now easily able to participate in the Polkadot governance process through the Bitcoin Suisse Vault. Enabling easy access to participate in on-chain governance while keeping tokens in an institutional grade custody service is a big step forward for adoption and participation on Polkadot”

Swiss Crypto Vault AG is a wholly owned subsidiary of Bitcoin Suisse AG. The Bitcoin Suisse Vault is based on the fully audited Swiss Crypto Vault solution and supports storage of BTC, ETH, ERC20/223, BSV, XRP, BCH, LTC, BTG, TRON, EWT and XTZ (including delegation). Additional crypto assets are being regularly added to the Bitcoin Suisse Vault.

Assets in the fully redundant Bitcoin Suisse Vault are held in cold storage on individual blockchain addresses and are accessible 24/7 without hardware by client-defined individuals for trading, transfer and other purposes.

Now, with the latest update to the Bitcoin Suisse Vault, DOT holders, as well as holders of KSM and CFG, can easily use their Vault account to create a proxy account on the device of their choice. This allows their assets to remain securely in cold storage while they participate in governance votes.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎


Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.


FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.