You need to know more about inabit because is a new company that manage cryptocurrency transactions and other management assets.

About inabit

Inabit is a digital asset management platform designed to bridge the gap between cryptocurrencies and traditional finance. It offers businesses and individuals a suite of tools to manage, convert, and utilize digital assets securely and efficiently.

Key Features of Inabit

1. Self-Custody Wallets

Inabit provides secure self-custody wallets, allowing users to maintain full control over their digital assets across multiple blockchains. These wallets are protected by Inabit’s Trusted Computing Mechanism (TCM), ensuring hardware-level security and customizable policy-driven access controls. 

2. Crypto <> Bank Service

This feature enables seamless conversion between cryptocurrencies and fiat currencies, supporting over 50 currencies. Businesses can efficiently manage cross-border payments, treasury operations, and payroll by integrating crypto into their financial workflows. Supported payment methods include SEPA, SWIFT, ACH, and more. 

3. Digital Assets Platform

Inabit’s platform allows users to manage their entire digital portfolio in one place. It supports integration with existing wallets and provides tools for streamlined management across various chains. 

4. Payments Infrastructure

The platform offers scalable solutions for global payments, enabling businesses to power transactions with seamless integration. This infrastructure supports both crypto and fiat transactions, facilitating smooth financial operations. 

5. API Integration

Inabit provides a customizable API, allowing developers to embed crypto payment systems, user authentication, and more into existing business infrastructures. This API is adaptable and scalable, catering to a wide range of use cases. 

6. Compliance and Security

The platform emphasizes security and compliance, incorporating end-to-end encryption and integrated compliance measures such as AML and KYT. Customizable approval workflows add an extra layer of protection. 

7. Collaboration with Google Cloud

Inabit has partnered with Google Cloud to enhance the security of crypto transactions and digital asset management, leveraging Google’s infrastructure to provide robust protection against threats. 

Company Overview

Inabit is a privately held company based in Bnei Brak, Israel, with a team of 11-50 employees. The company focuses on providing software solutions for secure and efficient digital asset management.

More about inabit partner with Google Cloud

inabit, a leading provider of secure cryptocurrency management solutions, has announced its collaboration with Google Cloud to utilize its Confidential Computing platform to provide stronger security for cryptocurrency and digital asset transactions.

The urgency of this collaboration is underscored by recent high-profile security breaches, notably the July 2023 Multichain hack, in which attackers stole over $125 million due to compromised private keys. This incident vividly illustrates the critical importance of secure private-key management solutions like the Confidential Computing integration inabit developed in collaboration with Google Cloud.

Google Cloud’s Confidential Space enables inabit to create secure environments where cryptocurrency private keys remain encrypted and inaccessible at all times—even while actively in use. This hardware-level encryption helps safeguard transactions against insider threats and external hacking attempts, providing robust  data security.

Rene Kolga, Senior Product Manager at Google Cloud, highlighted the importance of Confidential Computing for the Web3 industry:

“TRUSTED EXECUTION ENVIRONMENTS POWERED BY CONFIDENTIAL COMPUTING ARE BECOMING THE DE FACTO STANDARD ACROSS THE WEB3 INDUSTRY. THIS PIONEERING TECHNOLOGY, MADE EASY BY GOOGLE CLOUD’S CONFIDENTIAL SPACE ENABLES INABIT TO MAKE ADVANCED SECURITY SIMPLE, SCALABLE, AND ACCESSIBLE FOR ENTERPRISES HANDLING SENSITIVE DIGITAL ASSETS ACROSS THE GLOBE.”

inabit’s solution uniquely combines its proprietary Trusted Computing Mechanism (TCM) with Google Cloud’s Confidential Space, eliminating a single point of failure present in many traditional custodial solutions by ensuring private keys remain encrypted, even internally to inabit itself.

Dr. Moti Geva, CTO at inabit, who previously served as Head of Israel’s National Computer Emergency Response Team (CERT-IL), noted the strategic importance of the collaboration:

“OUR CUSTOMERS DEMAND SECURE SELF-CUSTODY SOLUTIONS THAT ENSURE COMPLETE CONTROL AND CONFIDENTIALITY OF THEIR DIGITAL ASSETS. THROUGH THIS COLLABORATION WITH GOOGLE CLOUD, WE’RE MEETING THAT NEED BY LEVERAGING CONFIDENTIAL SPACE, ALLOWING US TO MANAGE PRIVATE KEYS EVEN DURING TRANSACTIONS SECURELY. OUR TCM TECHNOLOGY, COMBINED WITH GOOGLE CLOUD’S ADVANCED ENCRYPTION, CREATES A ROBUST SHIELD AGAINST VULNERABILITIES THAT HAVE AFFECTED OTHER DIGITAL WALLET SOLUTIONS.”

The integration has already enabled financial institutions to securely process high-volume cryptocurrency transactions, reducing risks associated with internal breaches or unauthorized external access. Banks and businesses using inabit’s technology can securely swap, convert, and manage cryptocurrencies and fiat currencies in a streamlined and trusted environment.

Dr. Geva added:

“OUR GOAL IS TO ENSURE BUSINESSES CAN CONFIDENTLY ADOPT CRYPTOCURRENCIES AND DIGITAL ASSETS SECURELY AND AT SCALE, POSITIONING OUR CUSTOMERS FOR LONG-TERM GROWTH IN AN INCREASINGLY DIGITAL ECONOMY. INABIT IS COMMITTED TO CONTINUOUSLY ENHANCING SECURE DIGITAL ASSET INFRASTRUCTURE TO SIMPLIFY CRYPTO ADOPTION FOR BUSINESSES, ALIGNING CRYPTO CAPABILITIES CLOSELY WITH TRADITIONAL FINANCIAL SYSTEMS. BY DEMOCRATIZING TRUSTED COMPUTING TECHNOLOGIES PREVIOUSLY RESERVED FOR DEFENSE AND FINANCIAL INSTITUTIONS, WE ENABLE BUSINESSES OF ALL SIZES TO EMBRACE CRYPTO SECURELY AND EFFICIENTLY.”

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