RedotPay places great emphasis on the security of users’ funds. Here are its key features:
Exclusive On-chain Wallet Addresses: Each RedotPay user is assigned a unique on-chain wallet address, simplifying the transfer of digital assets.
Secure Fund Custody: RedotPay securely holds users’ digital assets through an independent licensed Hong Kong trust company. These assets are protected by insurance provided by Lloyds of London, with coverage of up to $50 million. The private keys for digital assets are generated and securely stored within the industry’s highest-grade Hardware Security Modules (HSMs). The fund custody adheres to both FIPS 140-2 standards and the recommended custody scheme by the Securities and Futures Commission (SFC) of Hong Kong.
Bankruptcy Protection: RedotPay registers its customers as the owners of their digital assets. In the unfortunate event of RedotPay facing bankruptcy, relevant records will be submitted to the court to prove customers’ ownership of assets held by third-party custodians.
Overall, RedotPay is committed to protecting the security of users’ funds by implementing secure technologies and custody solutions.
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