Bitcoin Daily: Trustology Debuts iPhone-Controlled Crypto Vault; FINMA Says $90M ICO Illegal
Trustology has launched an iPhone-controlled crypto vault that is reportedly safe enough for financial institutions (FIs). TrustVault is now available in the Apple U.K. App Store, and can be used to store ether, with bitcoin and ERC-20 tokens to follow soon.
“It allows you the ease of a mobile phone, but really what we always talk about is a TrustVault account. If you mention the phone, people think it’s just a phone app. But that’s a bit like saying my bank account is just the mobile bank app. It looks like a simple app, but the real power is in the service behind that,” Alex Batlin, Trustology founder and CEO, told CoinDesk.
In other news, the Swiss Financial Market Supervisory Authority (FINMA) has accused Envion AG of carrying out a $90 million initial coin offering (ICO) without a license. The company, which is now in liquidation, received the funds from at least 37,000 investors. FINMA, though, said the conditions for the issued tokens were not equal for all investors, and that the prospectuses did not meet minimum requirements. In addition, Envion AG did not have an internal audit arm, which is legally required.