Guernsey’s ITI Funds says deal enables it to avoid crypto market risks

Guernsey-based investment company ITI Funds has said it has entered into a partnership that arms it with a technology to significantly reduce risks inherent in cryptocurrency transactions.

ITI Funds’ acquisition of a stake in Russian technology company Cracc gives the British firm access to a multi-signature solution that would enable it to avoid many of the “risks specific to the cryptocurrency market – hacking, loss of private keys, and transfers to incorrect addresses”, a statement from ITI Funds quoted its CEO, Gleb Yakovlev, as saying.

Multi-signature is a security scheme involving the use of more than one digital signature to authorise a crypto transaction.

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