On The Brink with Castle Island Adam Healy (Station 70) and Josh Schwartz (Fordefi) on failover MPC wallets (EP.621)
23 snips
May 8, 2025 
Adam Healy, CEO of Station 70, and Josh Schwartz, CEO of Fordefi, delve into the future of cryptocurrency wallets. They kick off by discussing their innovative collaboration on failover MPC wallets designed for disaster recovery. The duo highlights the growing need for advanced security measures in the crypto landscape, especially following recent incidents. They emphasize the importance of disaster recovery tools, user control over keys, and the transformation of traditional banking practices to secure digital assets in this evolving market.
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Four Wallet Categories Today
- Institutional wallets have evolved into four main categories, including regulated custodians and institutional non-custodial wallets.
- Fortify focuses on multi-chain connectivity, clarity in transaction signing, and advanced policy controls for DeFi use cases.
Basics Matter in Crypto Security
- Many crypto security failures stem from neglecting basic security hygiene rather than complex failures.
- Station 70 and Fortify's failover wallet partnership provides critical safeguards like standby wallets and key transfer capabilities for resiliency.
Prepare Wallet Failover Plans
- Always prepare for operational outages by having redundant wallet providers and failover mechanisms.
- Use tools to securely transfer MPC key backups to standby wallets to maintain uninterrupted asset control.