Let’s face it; the lack of regulations and uniformity in the cryptocurrency space is hurting business. Moreover, the issue adversely affects the cryptocurrency security sector. Fortunately, Swarm is there to avail with these services. According to a press release, Swarm secures support for its products as it enters a partnership with Monarch Blockchain Corporation.
Further, the release reveals that Monarch wallet will support “all SRC20 security tokens, as well as the SWM utility token.” This is a huge milestone for both companies as they work to establish standards in the sector. According to the release, Swarm created the Market Access Protocol (MAP) to bring standard operating procedures.
“MAP is a solution that facilitates the efficient flow of compliant transactions while offering both privacy protection for participants and a framework for regulatory compliance,” the release reads in part.
Users to Benefit More as Swarm Secures Support for Its Products
In addition, the solution is keen on the security issues associated with blockchain. The biggest problem regulators have with the cryptocurrency sector is the possibility to facilitate money laundering. In light of this, the platform seeks to enhance safe and compliant transactions. Additionally, the MAP adds to consistency and scalability properties of the blockchain network.
Furthermore, the partnership will provide a liquidity source for the SWM token. This is for the reason that the token will gain more exposure on the Monarch Exchange. Similarly, the SRC-20 security tokens will get an opportunity for more uptakes.
Per the release, Monarch has one of the best tools and services in the cryptocurrency ecosystem. Therefore, as Swarm secures support for its products, it will incentivize a mass adoption of the SWM tokens.
Cold Storage
Obviously, this is an especially momentous period for the Swarm management. Philipp Pieper, co-founder & CEO of Swarm, relishes the opportunities that the partnership promises. In his words, he says:
“Monarch is a product and technology first company, which makes them an ideal partner for Swarm. Their universal crypto wallet, and their roadmap of empowering tools and services will be a real driver of the mass adoption and we are thrilled that SWM, SRC20 security tokens, and MAP will all be a part of Monarch.”
As Cryptovest reports, users will be able to enjoy the tremendous utility of the Monarch Wallet. The wallet offers offline storage of digital assets in a decentralized manner. Essentially, the property will enable tighter security for SRC20-based security tokens and the SWM token.
The Monarch Wallet provides its users with decentralized cold storage, suggesting that the company doesn’t store clients’ private keys. According to the partnership, users will be able to hold Swarm’s SRC20-based security tokens and the SWM token using the secure cold storage option of the Monarch.
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