SCRYPT Digital Statement from Founder on recent industry events

Author: 
Sonja Greenfield
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Swiss. Safe. Secure.

In these turbulent times we thank you for your trust and, as always, SCRYPT would like to provide open, transparent communication.

In short:

We did not have any exposure to FTX / Alameda or any of their affiliates and have not been affected

Recent events have again highlighted which organisations you can trust; those who have proper risk management, governance, and integrity.

SCRYPT has been operating as a trusted, licenced, and audited financial institution since 2019. All customer assets are held 1:1 and SCRYPT is not able to move, encumber, or pool client funds without client direction. Thus, a “bank run” on SCRYPT is not possible.

Over the past years we have enabled our clients to integrate digital assets into their existing environment. We are here to support you if you have been looking for alternative solutions for your crypto infrastructure and services. Institutions, Trading firms, and Banks, collectively managing over $250+ Billion choose and trust SCRYPT because of our reliability, security, and regulatory standing.

We continue to adhere to and implement strict risk management and monitoring processes across markets, counterparties, and liquidity.

Context: https://www.linkedin.com/posts/normanswooding_riskmanagement-trading-digital-activity-6996042097355018240-4o9B?utm_source=share&utm_medium=member_desktop

At SCRYPT Digital

We maintain adequate control mechanisms and risk management across:
  • Corporate Governance: Board of Directors, Policies, Processes
  • Trading: pre, live, and post-trade checks
  • Operations
  • Settlements: Transaction Authorisation Policy, Two-Factor Authentication, and Multi-Signature Approval
We adhere to the highest levels of KYC, AML, and regulatory and compliance perspective:

_ 3rd consecutive successful compliance and finance Audit, through a Top Tier Auditor BOD AG represented on our Board.

_ Blockchain Analytics & Know Your Token compliance procedures through Chainalysis

_ SRO Licenced under VQF: We did not execute a single trade, or sell a single product before gaining regulatory clarity and achieving the corresponding licencing and supervision

We adhere to bank-grade security standards:

_ Tier 1 Banking partners

_ Fireblocks and accompany Crime insurance, Professional and Privacy Liability insurance

_ Coincover Disaster recovery protection

_ Our processes, financials and cyber security are subject to continuous audits and disclosures

TL:DR;

1. We build solutions that last, and we don’t take any short cuts

2. We empower our clients and partners to invest in the digital asset economy with complete trust

Our 3 year track record is a testament to this.

Future:

We will send a separate note around ‘’Lessons learned in 2022’’ — our hope is that looking back at these events, it will be marked as a catalyst for where true innovation, good governance and integrity overtook short-term thinking, greed, and malicious actors.

We look forward to continuing to provide trusted, regulated infrastructure for the crypto industry– and are very thankful to our clients and partners who are joining us on this journey.

Onwards and upwards.

Sincerely yours,

Norman Wooding

CEO & Founder

Institutional Investors/Clients

Please note, that the information published on this website is directed exclusively to institutional investors with professional treasury according to art. 5 para. 2 let. d Swiss Banking Ordinance (“BO”) which also qualify as institutional clients according to art. 4 para. 3 let. g and art. 5 para. 3 Financial Services Act (“FinSA”) and / or banks and prudentially supervised institutions according to art. 5 para. 2 let. a BO.

This website and its pages are not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or is prohibited without obtaining the necessary licenses or authorizations and such licenses or authorizations have not been obtained.

Scrypt Asset Management AG assumes no liability for the unauthorized use of this website. The information published on this website does not constitute a recommendation or an offer or a solicitation to buy or sell digital assets. The information and opinions published here are provided solely for personal use and for advertising and informational purposes; they can be amended at any time without notice.

Scrypt Asset Management AG offers no guarantee (either express or implicit) that the information and opinions published on this website are correct, complete and up-to-date. In particular, Scrypt Asset Management AG is not required to remove information that is no longer up to date or to identify it expressly as such. The information on this website prepared by Scrypt Asset Management AG does not constitute commercial, legal, tax or other advice, nor may investment or other decisions be taken based solely on this information. Every investment decision should be preceded by a comprehensive consultation which is geared to the customer’s situation.

Scrypt Asset Management AG
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