VanEck, one of the fund issuers approved to launch a Bitcoin ETF in the United States, announced the launch of its own self-custody asset management platform, called SegMint.
The new solution developed by VanEck seeks to offer users a simpler and more reliable alternative to tokenize, manage and share ownership of their assets using blockchain and NFTs. According to the statement shared by the company, SegMint is designed to provide tools for security, customization and management of digital assets to its users.
What makes this new platform unique is that it implements a security model called Lock & Key, which VanEck says makes the process of managing self-custodial assets easier while introducing a simple solution for sharing access and ownership with others, without compromising asset security.
Matt Bartlett, founder of SegMint, said that the new platform was designed to address one of the main challenges of the crypto industry, that of sharing access and ownership in a world of self-custody.
SegMint, VanEck's solution to improve the accessibility and security of assets
The platform issued by VanEck will allow investors the possibility of optimizing their experience of participating in the construction of a more inclusive and user-friendly digital asset ecosystem, thus improving the accessibility and security of users' assets.
Bartlett explained that, initially, the SegMint interface will be focused on users with knowledge of blockchain technology and digital assets; that is, crypto-native users. However, in the future, the goal is for the new platform to be accessible to all users, regardless of their technical experience, so VanEck is committed to simplifying the user experience, in order to make SegMint more accessible and user-friendly. The asset management firm’s emphasis on SegMint’s simplicity lays the groundwork for broader adoption of cryptocurrencies and digital assets in the real world, Bartlett said.
On the other hand, VanEck explained that the new platform, which was born from its rigorous research on digital assets, also will operate as a self-custody NFT marketplace, so users will have the ability to mint NFT tokens, as well as utility tokens, which can be managed through a multi-sig wallet solution, also integrated into the new platform.
Fractionating ownership into non-fungible tokens
SegMint will allow NFT collection holders, such as Bored Ape Yacht Club (BAYC) to split up property of their non-fungible tokens, as well as creating digital representations of real-world assets on the blockchain, which can also be fractionalized to share ownership. All of this, with the idea of providing a reliable alternative to the challenge of sharing ownership and access to digital assets.
According to VanEck, users will be able to tokenize and fractionalize ownership of luxury assets, such as fine watches and wines, and in the future, real estate, through SegMint.
VanEck's new platform was developed in collaboration with its technology partners, including NuevaTech, Delegate, MINTangible, Portals and Walletchat.
A platform for individual and institutional users
Importantly, VanEck’s asset management platform extends its utility beyond individual users. SegMint also serves organizations and institutions that need a robust framework to manage and share their digital assets.
As the company explained, SegMint provides a flexible and secure framework both for NFT holders collaborating on creative projects and for businesses that need to share digital assets.
VanEck has been making progress in tokenization, which is currently one of the blockchain technology use cases that has sparked the most interest in companies and organizations. As mentioned at the beginning, VanEck is one of the asset managers that was approved by the United States Securities and Exchange Commission (SEC) to launch a Bitcoin spot ETF, giving its investors direct access to the world's leading cryptocurrency. VanEck has also launched other funds and investment products related to crypto assets.
The company has integrated cryptocurrencies into its strategies, in order to offer its clients attractive exposure to the fastest-growing assets that are revolutionizing the world of finance.
For the time being, access to SegMint will be blocked for US users, due to the lack of regulatory clarity that exists in the country regarding digital assets.
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Main image by VanEck
