Arculus Holdings, L.L.C. announced that it will be sponsoring Consensus by Coindesk 2021 to highlight its cryptocurrency three-factor-authentication cold storage solution. The Arculus system is comprised of patented and patent-pending technology and provides an attractive solution for the consumer with its familiar sleek metal credit card form and tap-to-transact functionality.
.@ThisIsArculus sponsors Consensus by @Coindesk to address the significant security risks of cryptocurrency.
Arculus is a subsidiary of CompoSecure, L.L.C., a pioneer and category leader in premium financial cards, which announced on April 19, 2021 that it had agreed to merge with Roman DBDR Tech Acquisition Corp.
Consumer adoption of cryptocurrencies is exploding with companies such as Paypal, Stripe, Venmo and Robinhood recently adding the ability for tens of millions of consumers to acquire cryptocurrencies, but significant risks abound. Bloomberg reported on the massive loss of customers’ cryptocurrency, stating: “money invested by about 390,000 active users had become “irretrievable.”
Yahoo Finance reported on the risks Coinbase consumers are facing as cryptocurrency transactions are usually irreversible. The article discusses how hundreds of thousands of dollars were lost in a matter of minutes.
At the Consensus virtual cryptocurrency event that runs May 24-27, CompoSecure will promote its Arculus Wallet™ cold storage product with its three-factor-authentication system that provides the solution to these risks for both the consumer and the service provider. The three factors, biometric, pin and air-gapped Arculus metal card, set the gold standard for security in the crypto space.
“Arculus fills a strong market need blending ease of use with stringent security so that the everyday consumer feels more comfortable entering the cryptocurrency market,” said Adam Lowe, Chief Innovation Officer of CompoSecure and creator of the Arculus technology. “Consumers and providers both win by adopting the Arculus solution, which lets the consumer control their private crypto keys.”
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The Arculus Key™ card delivers an exceptional customer experience combined with increased security. It requires no battery or charging and is a sleek metal card that provides a truly air-gapped private key storage solution. It contains an EAL 6+ embedded secure element, ranked as one of the highest assurance levels of security, that holds your encrypted keys and must be physically near the mobile device to enable transactions and combines this factor with your personal pin and the biometric security of your mobile device (e.g., fingerprint or facial recognition).
The Arculus Key™ card connects via encrypted NFC to the Arculus Wallet™ mobile app. With the Arculus Wallet™, consumers can easily manage multiple currencies, send funds to others, buy or sell crypto, or swap crypto-to-crypto all in one easy-to-use interface. The Arculus Key™ card will be available in Q3 of 2021, along with the Arculus Wallet™ app for iOS and Android devices for download.
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