The simple cold storage wallet secures the world’s most popular cryptocurrencies with 3-factor authentication, protecting consumers from hacking and theft
CompoSecure, L.L.C., a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, announced it has begun shipping its Arculus KeyTM card, the next generation of cryptocurrency cold storage, which is combined with the Arculus WalletTM mobile app that is now available for a free download on iOS and Android app stores. The Arculus solution uses 3-factor authentication and provides air-gapped protection (i.e., not connected to the internet at all) against hacking and theft, and is the size and shape of a metal credit card.
CompoSecure announces general availability and shipping of its Arculus KeyTM Card for $99, enabling consumers to manage #cryptocurrency in one secure place
“Simple and secure storage solutions are urgently needed for the more than 221 million crypto users around the world who are targets for fraud and theft,” said Jon Wilk, CEO of CompoSecure. “More than $8 billion in crypto has been hacked or stolen in 2021 thus far, doubling the previous year, including examples of crypto exchanges being hacked, personal devices being comprised, or usernames and passwords being phished that were part of these growing losses. Arculus gives customers control of their private keys using an air-gapped cold storage solution that provides a safer, simpler and a smarter way to secure crypto assets.”
Arculus makes it easy for consumers to manage cryptocurrency in one reliable place with the newly launched Arculus Wallet mobile app. The intuitively designed app enables consumers to send crypto to others, use fiat currency to buy crypto, and swap crypto-to-crypto by merely using “tap to transact” authentication, which allows the user to securely authorize the transaction with the Arculus Key card. The app supports transactions in the most popular cryptocurrencies, including: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), USD Coin (USDC), TrueUSD (TUSD), Chainlink (LINK), Wrapped BTC (WBTC), DAI and Tether (USDT).
“The cryptocurrency cold storage solutions on the market today are clunky and overly complicated, so we designed and built an easy-to-use solution that is also one of the most secure on the market,” said Adam Lowe, Chief Innovation Officer of CompoSecure. “We need to securely keep hackers out, but easily let authenticated users into the device with behavior they already are familiar with, such as the tap to transact feature.”
The Arculus Key card works in tandem with the Arculus Wallet mobile app to protect each consumer’s private crypto keys with 3-factor authentication security that requires:
- Something You Are — The Arculus Wallet app leverages biometric security systems on mobile devices (e.g., fingerprint or facial recognition).
- Something You Know – The Arculus Wallet app requires a 6-digit PIN.
- Something You Have – The Arculus Key card contains an EAL 6+ embedded secure element that holds the user’s encrypted private keys.
Consumers can purchase Arculus cards at throughout the U.S. (subject to transaction restrictions in New York and Hawaii). The price for the Arculus Key card is $99, which includes free shipping and handling. Sales tax is not included.
On April 19, 2021, CompoSecure announced that it had signed a merger agreement with Roman DBDR Tech Acquisition Corp. (NASDAQ: DBDR) (“Roman DBDR”), a special purpose acquisition company. Upon closing of the proposed merger, the combined company will operate as CompoSecure, Inc. and plans to trade on the Nasdaq stock market. The transaction reflects a pro forma enterprise value for the combined company of approximately $1.2 billion. The transaction is expected to close in the second half of 2021 and remains subject to approval by Roman DBDR stockholders and other customary closing conditions.
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