Uphold launches beta of assisted self-hosted solution Vault

Digital financial platform Uphold has launched Uphold Vault, an auxiliary self-custody solution designed to protect users’ asset security and prevent the loss of private keys. Through Vault, users can initiate the key replacement process, restore access to their assets, and provide much-needed security. Vault uses a three-key system, requiring the use of two keys to transfer assets, ensuring user control. The system includes the user's private key, Vault key, and Uphold key (used to co-sign transactions and assist in key replacement). If a user loses a private key or Vault key, Uphold will help the user replace it and restore the user's access to assets in the Vault. Uphold Vault is currently in beta testing, with early access currently open to XRP holders. Uphold Vault is expected to fully launch in early 2024, with plans to expand its services to Bitcoin and other cryptocurrencies in the first quarter. (Cryptoglobe)