Payment technology

Ciphrex launches bitcoin wallet with multisignature capabilities

BitcoinCiphrex, a California-based startup that provides enterprise-grade digital currency transaction processing software, recently launched BitCoin Vault, the first bitcoin wallet that supports multisignature account management.

“Security is the primary consideration for financial transactions, so we’ve focused our efforts in making the use of digital currencies secure,” Ciphrex Co-CEO and CTO Eric Lombrozo said. “The multisignature feature makes Bitcoin Vault suitable for enterprise applications by enforcing company policies at the cryptographic level and avoiding any single point of failure.”

The company has also developed CoinStream, a notification system for digital currency transaction processing that can be integrated to facilitate retail purchases, international money transfers, debit card payments and currency exchanges.

“Digital currency transaction processing is an exciting new field that will revolutionize the way payments are initiated and settled globally,” Lombrozo said. “At a more fundamental level, at Ciphrex we are working to develop the payment network infrastructure needed to bridge the gap between digital and conventional currencies while exploring entirely new applications these technologies allow that had up until now been impossible.”

The beta release of the wallet can be downloaded for free at Ciphrex’s website.

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