Vechain Thor Breaks the Record, Becomes First Digital Currency To Implement Oceanex Institution Grade Custody Solution

VeChain is now an established name within the crypto and Blockchain space as a renowned supply chain focused platform. The Blockchain network has setup immutable tracking options for a number of companies in the manufacturing sector and other industries as well. What’s more? VET has also been able to offer a variety of Blockchain solutions to multiple sectors. These industries can range from My Story solution (this option has adopted three of the largest winemakers in Italy) to BrightCode solutions (this option was designed to serve as the second largest food firm in China) to name a few.

The continuous desire to remain at the top of the supply chain related solutions by Blockchain technology has ensured that VeChain adopts several policies that are directed towards placing the network ahead of its closest competitors.

VeChain (VET) Price Today – VET / USD

NamePrice
bitcoin
Bitcoin
$8,939.03-5.45%
vechain
VeChain
$0.0057-12.86%

VeChain Thor Price Prediction: VET Adopts Oceanex Custodian System

VeChain announced this past Wednesday that it had launched a digital asset custodian service on its Blockchain network. The announcement was revealed via the network’s official Twitter page. According to the report, the new initiative would see VeChain’s Blockchain implement OceanEx’s institution-grade custody solution on its platform.

From the report, this new initiative would see the Blockchain platform adopt a better secure digital assets environment. This solution would benefit institution members. Also, OceanEx via a blog post further highlighted the type of benefits that this new partnership with VeChain will bring.

The Custodial system combines both warm and cold storage architecture to secure digital assets within the blockchain platform. Some features that will be implemented by the custodian system includes:

– AI-equipped risk management model

– Robust cold storage reporting and auditing system

– On-chain segregation of cryptocurrencies

– Integrating VeKey and HSM digital asset management turnkey options

VeChain Thor Price Prediction: About OceanEx

OceanEx is a renowned digital exchange that has actually been in a partnership with VeChain from the start of this year. The crypto exchange is well known to offer a secure environment that makes it easy for users to gain accessibility to digital asset investments on a global scale.

Although the VeChain coin has been able to sell out its solution to a vast number of prestigious automobile companies around the world including BMW and Renault, the current move is another opportunity for the industry to feel the effect of the Blockchain’s ability to ensure potency accountability and transparency.

The decision to adopt this Custodian service, VeChain’s ecosystem would greatly benefit as it would likely increase the scalability of the digital assets on its platform and make things easier for institutional users.

VeChain Thor Price Prediction: VeChain’s Current Market Position

How has the VeChain price performed so far? Let’s the market fundamentals of the coin. VeChain is currently the number 27 largest coin according to market cap. The price of VeChain $0.007331 as of the time this content was published. There is currently a total of 55,454,734,800 VET in circulation. The coin had a market cap of $406,566,379 as of press time according to CoinMarketCap. VET also held a 24-hour trade volume of $18,871,833 at the same time.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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