LCX Exchange is partnering with DigitThree Labs to form a formal agreement for Proof-of-Concept. Through this partnership, LXC Exchange will drive forward its DGMV Authenticator, which is tentatively scheduled for a rollout in the coming days of 2022.
Background
LCX, as a platform, allows its users to trade Cryptocurrencies and store them securely in their respective accounts. The platform is known for its security which is governed by lawful regulations. LCX Exchange majorly deals with two products, namely security tokens and digital assets.
Functions of LCX Exchange are directed to bridge the gap between the traditional financial system and the upcoming FinTech space. LCX Exchange has been leading as a pioneer in the industry since it was founded in 2018. The headquarter is located in Vaduz, and the two branches are located in Crypto-Valley Zug & New Delhi.
DigitThree Labs is a new-age firm that offers cloud-based services to various enterprises. The goal of DigiThree Labs is to enable its clients to drive through the digital transformation, which is characterized as decentralized and quantum-safe.
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As a part of DigiCorp Labs’ family, DigitThree Labs thrives on an image of building a people-centric, secure, and value creation-focused web of tomorrow.
DigiThree Labs x LCX Exchange
The consistent and friendly relationship of LCX Exchange with DigiThree Labs has achieved a new height at present. Both the players have partnered to provide a formal Proof-of-Concept Agreement.
As a part of this integration, LCX Exchange will work to develop a blockchain-based model to secure the online login process and safeguard the passwords of the users. The tool is being called DGMV Authenticator, and it will be rolled out for the testing phase in the second or third quarter of 2022.
DGMV Authenticator will also offer a Two-Factor Authentication service while securing usernames and passwords. After concluding the pilot program, LCX Exchange will collect relevant data to further improve the online security tool.
Monty Metger, the Chief Executive Officer of LCX, shared that the company was excited to partner with DigitThree Labs. He said that security threats and phishing attacks were on the rise to target login details of the users more frequently. Monty Metger added that the team was looking forward to piloting the DGMV Authenticator along with many more cyber security technologies.
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Jozua van der Deijl, the Chief Executive Officer of DigiCorp Labs, echoed the tone of excitement from the other side. Jozua van der Deijl said that he was happy to see LCX taking the matter of security very seriously. He added that he was hopeful about others picking up the hint to work in the direction of integrating DGMV Authenticator as an extra security layer on their respective platforms.
