SEOUL, South Korea, March 18, 2019 -- Penta Security Systems Inc. today announced the release of PALLET X, an advanced cryptocurrency wallet tailored for digital asset enterprises such as cryptocurrency exchanges and payment service providers in need of secure, effective, and practical wallet management. Created by Korea's leading IT security experts with over 20 years of professional experience in cryptography, PALLET X is available as a server-type hardware appliance that provides reliable hot storage, with the option of cold wallet integration.
PALLET X is a multisignature wallet that requires more than one signature for transaction authorization. Distributed access control is essential for maximizing systematic efficiency in managing enterprise assets, while providing effective protection against hacking attempts and rogue insiders. Other features designed to provide exceptional key protection include: a proprietary cryptographic module developed in compliance with BIP-32/39/44 standards for third-party wallet compatibility; a Hardware Security Module (HSM) to provide a fully trusted environment for wallet generation and management; "Shamir's Secret Sharing" for privacy-enhanced recovery phrase storage; and biometric authentication. Already, several Korean exchanges have deployed PALLET X to strengthen their wallet security.
Other PALLET products include a mobile wallet, a hardware wallet, a card-type wallet, and an IoT-optimized blockchain chip. Together, they allow seamless security across environments while providing asset liquidity and efficient transactions. All PALLET products are built upon a common technical foundation, Penta Crypto Wallet Framework (PCWF), which utilizes proprietary algorithms and transaction protocols to enable institutional-grade security. The release of a custody solution aimed at financial institutions is underway.
Chief Strategy Officer, DS Kim stated, "With global IT giants accelerating blockchain adoption, we expect growing demand for enterprise-ready security solutions. As a recognized leader in encryption and as Asia's top cybersecurity vendor, we embrace this momentum by launching our wallet security platform that stands out for providing total security across operational environments, from client to server."
About Penta Security
Penta Security Systems Inc. is a leader in data, IoT, and blockchain security solutions and services. With 22 years of expertise in powering secured connections, Penta Security is the top cyber security vendor in Asia, as recognized by Frost & Sullivan, and APAC market share leader in the WAF industry. Penta Security continues its push for innovation as a pioneer in securing blockchain-based environments. For more information on Penta Security, visit www.pentasecurity.com. For partnership inquiries, email info@pentasecurity.com
