Bosonic and Sound MoneySolutions recently announced their joint commitment to advancing the non-custodial and multi-custodial settlement framework to prevent the next FTX and ByBit breach. This partnership aims to eliminate systemic risks inherent in traditional custodial models, ensuring investors retain full control over their assets while accessing global liquidity.
Centralized exchanges have long posed existential risks to participants. Single points of failure, counterparty exposure, and other factors have culminated in billions lost to hacks, fraud, and insolvency.
“The current model is unsustainable,” said Rosario Ingargiola, CEO and Founder of Bosonic. “ByBit’s breach underscores a dire truth: custodial exchanges are honeypots for hackers. We must build infrastructure that removes reliance on third parties entirely—and this partnership with Sound Money Solutions delivers that future”.”Self-custody isn’t optional—it’s essential,” stated Max Hillebrand, Co Founder and Head of Security at Sound Money Solutions. “Our goal is to empower every participant, from retail traders to institutions, with the tools and expertise to control their assets confidently. Whether you’re a retail trader or an institution, you deserve tools that let you control your assets and thrive in confidence. Our partnership with Bosonic moves us closer to a future free from fear of insolvencies, hacks, and mismanagement”.
Bosonic’s blockchain-based platform revolutionizes trading by ensuring assets never leave user-controlled custodians. Key innovations include:
- Real-Time, On-Chain Ownership: Users retain direct control over assets; no pre-funding required.
- Atomic Settlement: Trades settle instantly and securely across multiple custodians, eliminating credit risk.
- Cross-Custodian Net Settlement: Reduces settlement friction through seamless, trustless coordination between custodians.
Sound Money Solutions complements Bosonic’s infrastructure by delivering end-to-end self-custody solutions:
- Key Management & Governance: Custom frameworks for secure private key storage.
- Disaster Recovery: Step-by-step protocols for compromised keys or lost access.
Together, Bosonic and Sound Money Solutions are urging systemic change:
- Investors must demand platforms that guarantee real-time ownership transparency and self-custody support.
- Custodians should integrate infrastructure enabling clients to access liquidity without surrendering control.
- Exchanges must adopt non-custodial settlement frameworks to rebuild trust and reduce liability.
- Industry Stakeholders must act preemptively to address risks before the next crisis, not after.
This partnership aims to forge a decentralized, resilient ecosystem that honors a future free from centralized failures, hacks, and mismanagement.
Whether users are traders, exchanges, custodians, or market makers, Bosonic and Sound Money solutions invite them to learn how they can help to maintain control of their assets while accessing the global liquidity they need.
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