Key Takeaways
- • Cregis argues that institutional digital-asset wallets must provide governance, access control, and auditability in addition to secure private-key management, according to a HackerNoon sponsored interview with Cregis co-founder and Cregis Custody FZE CTO Aaron Zhang.
- • Cregis developed its Trust Vault framework in 2024, after researching institutional access-management mechanisms beginning in 2022, to translate internal policies into enforceable controls over digital-asset operations.
- • Trust Vault uses role-based permissions, transaction-amount-based approval requirements, and a "Sign What You See" principle requiring operators to review the exact transaction contents before approval.
- • Cregis is expanding from MPC-based self-custody wallets into institutional asset management and regulated custody as banks and other regulated businesses enter the sector.
- • Cregis, founded in 2017, says it supports more than 4,000 businesses across over 50 countries, operating across Asia, the Middle East, and Latin America.
Summary
A HackerNoon feature sponsored by Cregis examines how digital-asset wallets have evolved from tools for storing assets and authorizing transactions into enterprise infrastructure supporting complex financial operations. The article argues that as banks and other institutions enter the market, requirements extend beyond secure key management to include control over access, authorization, asset movements, and operational records.
Aaron Zhang, co-founder of Cregis and CTO of Cregis Custody FZE, who has worked on digital-asset products since 2015, said that wallet requirements changed as businesses adopted digital assets and needed multi-user support, differentiated permissions, and structured transaction management. MPC (multi-party computation) became a foundation for this transition by distributing key control and reducing reliance on a single point of compromise. Zhang said exchanges, fintechs, and banks that manage assets on behalf of clients must also demonstrate internal controls, authorization procedures, and accountability, particularly where external audits and regulatory oversight apply.
According to the interview, a secure key-management mechanism cannot alone establish whether transactions comply with internal policies or whether access privileges are properly controlled. Institutions must be able to determine who can initiate and approve transactions, who can modify whitelists and authorization policies, and whether any individual can bypass internal controls.
Cregis began researching institutional access-management mechanisms in 2022 and developed its Trust Vault framework in 2024. The company says Trust Vault allows institutions to define role-based permissions, set approval requirements that vary by transaction amount and risk level, and restrict who can modify policies. Its "Sign What You See" design principle requires an operator to review the exact contents of a transaction before approval, with those contents matching the transaction ultimately executed. Trust Vault also includes safeguards against unauthorized changes to governance rules. Cregis describes the product as a governance framework rather than simply a key-storage solution.
Zhang said the company's expansion into institutional custody reflects the needs of banks and regulated businesses, not all of which have the technical capabilities or operating experience to manage assets independently. Depending on their business model and regulatory obligations, some institutions may require a formal custody arrangement with an independent provider. Cregis describes itself as a digital-asset infrastructure platform offering wallet infrastructure, fund flow orchestration, and regulated custody, serving financial institutions, payment service providers, forex brokers, fintechs, and Web3 businesses.
Aaron Zhang, co-founder of Cregis and CTO of Cregis Custody FZE, who has worked on digital-asset products since 2015, said that wallet requirements changed as businesses adopted digital assets and needed multi-user support, differentiated permissions, and structured transaction management. MPC (multi-party computation) became a foundation for this transition by distributing key control and reducing reliance on a single point of compromise. Zhang said exchanges, fintechs, and banks that manage assets on behalf of clients must also demonstrate internal controls, authorization procedures, and accountability, particularly where external audits and regulatory oversight apply.
According to the interview, a secure key-management mechanism cannot alone establish whether transactions comply with internal policies or whether access privileges are properly controlled. Institutions must be able to determine who can initiate and approve transactions, who can modify whitelists and authorization policies, and whether any individual can bypass internal controls.
Cregis began researching institutional access-management mechanisms in 2022 and developed its Trust Vault framework in 2024. The company says Trust Vault allows institutions to define role-based permissions, set approval requirements that vary by transaction amount and risk level, and restrict who can modify policies. Its "Sign What You See" design principle requires an operator to review the exact contents of a transaction before approval, with those contents matching the transaction ultimately executed. Trust Vault also includes safeguards against unauthorized changes to governance rules. Cregis describes the product as a governance framework rather than simply a key-storage solution.
Zhang said the company's expansion into institutional custody reflects the needs of banks and regulated businesses, not all of which have the technical capabilities or operating experience to manage assets independently. Depending on their business model and regulatory obligations, some institutions may require a formal custody arrangement with an independent provider. Cregis describes itself as a digital-asset infrastructure platform offering wallet infrastructure, fund flow orchestration, and regulated custody, serving financial institutions, payment service providers, forex brokers, fintechs, and Web3 businesses.
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