At Fordefi, we’ve designed the first enterprise-grade platform purpose built for institutions transacting in DeFi. Over the past year, we’ve witnessed significant DeFi adoption from major institutions. While DeFi opportunities have become more attractive for institutional investors, there have been barriers to adoption due to DeFi’s unique risks and challenges. We’ve addressed many of these key challenges in our product with features like secure cross chain connectivity, transaction enrichment, and DeFi-native policy engine.
"In recent years, we've witnessed a remarkable transformation in DeFi from its nascent beginnings into a robust, institutional-grade ecosystem,” stated Josh Schwartz, CEO and Co-founder of Fordefi. “Fordefi is born from this evolution, dedicated to addressing the ever-evolving needs of institutional players entering the market. We remain steadfast in leading the charge and shaping the future of secure DeFi adoption for institutions.”
With that said, we understand that institutions have sophisticated requirements for managing their digital assets. Therefore, in addition to our battle-tested MPC wallet, we’re excited to share the work our team has accomplished in 1) securing our platform through cryptographic audits, 2) ensuring that our controls are performant with our SOC 2 Type 2 certification, and 3) providing our clients with the opportunity to insure their digital assets with a leading provider of reinsurance backed by Munich Re.
At Fordefi, we’re excited to share that we have secured an insurance policy from Great Lakes Insurance SE, a subsidiary of Munich Re. Munich Re, a leading provider of reinsurance, primary insurance, and insurance-related risk solutions, is widely recognized for its extensive underwriting experience and comprehensive risk solutions.
Recognizing the need to further enhance protection for institutional clients and their assets, our insurance broker, Lockton, and its LEAP (Lockton’s Emerging Asset Protection) team brought Munich Re and Fordefi together to forge a partnership that delivers extensive client coverage for both external cyber breaches and internal fraud. Munich Re conducted a rigorous due diligence process to evaluate Fordefi's technology and security approach, determining that Fordefi’s platform is suitable to underwrite a policy for. This additional layer of assurance provides our clients with the confidence to operate and scale their digital asset strategies.
“Lockton’s Emerging Asset Protection (LEAP) team is thrilled to support Fordefi in its efforts to create an insurance coverage package that delivers protection for both Fordefi and its clients,” said Sarah Downey, Blockchain & Digital Assets Advisory Leader at Lockton. “Our LEAP team is passionate about helping the digital ecosystem grow in a measured and responsible way. Insurance coverage and risk management considerations are meaningful tools to help achieve these goals.”
Fordefi’s MPC technology is designed to eliminate any single point of failure. Our battle-tested platform undergoes regular penetration testing exercises by Skylight Cyber and cybersecurity assessments by NCC Group, both renowned cybersecurity firms trusted by worldwide organizations. These evaluations help us identify and address any potential vulnerabilities in our security architecture. We recognize that maintaining the most secure and up-to-date platform is essential for mitigating DeFi risks and ensuring the safety of our clients' assets. Through rigorous penetration testing, we continuously improve our security measures to provide our clients with a robust and secure platform for their digital asset transactions.
Fordefi has successfully completed a SOC 2 Type II certification by Ernst & Young in compliance with the AICPA’s criteria for SOC (Service Organization Control). We are the first and only institutional DeFi wallet to receive this level of accreditation. This achievement underscores our steadfast dedication to upholding the utmost standards of security and reliability across our operations.
Fordefi’s MPC wallet is an all-in-one solution for digital assets management. Fordefi’s MPC wallet and security platform offers native connectivity to dozens of blockchains, self-serve policy controls, smart contract address verification, transaction simulation, and real-time risk alerts, alongside a full-stack developer suite of native APIs and SDKs. Fordefi is a financial technology and software company founded in 2021. For more information, visit www.fordefi.com.