FAQs

A Digital Asset Custodian operates in a similar fashion to traditional custodians, as its primary role is the responsibility for and safekeeping of customers' digital assets. However, unlike traditional asset custodians, custody for digital assets is achieved through secure key management, which allows the assets to be cryptographically secured. A Digital Asset Custodian has custody of a digital asset by holding the private key on behalf of the asset holder, ensuring that it cannot be accessed by any other party.

Fortuna Custody Solutions is Ireland's Leading Digital Asset Custodian, registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland in 2021. Fortuna enables clients to navigate the complex and rapidly evolving Digital Assets landscape with a compliant, connected, and secure range of custody solutions. Fortuna is a one-stop destination for digital asset custody and treasury-related services.

Fortuna leverages two types of custody solutions to meet different customer requirements and deliver a high level of efficiency and flexibility without compromising the safety of our clients' private keys:

1. Hardware Security Module (HSM) - this incorporates three security layers to custody private keys.
2. Decentralized MPC - this provides additional flexibility to access DeFi, Staking, and Trading. With this approach, keys never exist in their complete forms, as they are replaced with Multi-Party Computation that signs transactions.

Fortuna Custody Solutions offers custody services for both Fungible and Non-Fungible tokens across all major blockchains and their tokens (BTC, ETH, Algorand, Arbitrum, Polygon, Polkadot, Solana, and all the EVM). In addition to this, every month, Fortuna will implement the custodianship of new tokens.

Through its insurance partner, Fortuna provides clients with one insurance policy for each custody technology used. It includes:

• Third-party theft of the master seed and private keys following a physical breach of the HSM or the Decentralized MPC in a secure data center;
• Insider employee theft caused by collusion.

The insurance partner can also provide customized policies to meet individual client requirements.

Fortress is the portfolio overview and messaging platform of Fortuna. After the client onboarding process is complete, the client will receive an email asking to register with Fortuna Fortress. Once the registration is complete, the customer will be able to check their assets under custody and instruct Fortuna on new actions.

To use the service, a client needs to be onboarded with Fortuna and selected third-party providers for example OneAlpha. Once KYC&AMLs are approved, the client can start to benefit from the service.

A dedicated safehouse account is a client account in the Fortuna Custody Vault exclusively used to interact with the clearing infrastructure. Every time a client wishes to use our clearing infrastructure, the assets he/she wants to swap will be transferred from his/her “normal” account to the safehouse one.

At the moment Fortuna doesn’t charge any additional fee for the service. The only fee that clients have to pay are the ones agreed upon by one of the third-party providers, such as OneAlpha.

With the reflect service, Fortuna provides a mirroring effect of assets in selected exchanges, while the assets remain in custody. This eliminates the exchange counterparty risks, as the assets are just replicated in the books of exchanges, but not held in them. The only risk that clients have is losing assets with wrong trades.

In case a client loses money in an exchange trade, the assets lost will be deducted from the client's account to achieve a settlement with the exchange as defined via a contract with the 3rd Party provider.

A dedicated reflect account is a client account in the Fortuna Custody Vault exclusively used to interact with the exchanges. Every time a client wishes to use our Reflect service, the assets he/she wants to swap will be transferred from his/her “normal” account to the Reflect one.

Fortuna offers staking solutions for ETH, DOT, XTZ, SOL and ADA.

Through Fortuna, clients can instruct us to stake for you into Kiln, Lido and Figment.

DeFi connectivity refers to the possibility to directly connect the Fortuna Custody Vault with the main DeFi protocols, while maintaining the signing process within the custodian. By doing this, private keys are not exposed to protocols’ hacks and clients’ funds are safe.

Through Fortuna, clients can instruct us to interact with protocols such as AAVE and Yearn.