LeoNovus (LTV.V) has announced a pilot program testing agreement with Brane for its hyper-secure cryptocurrency custodian solution for banks. Brane will test the Company’s software as part of its data storage solution for digital assets and cryptocurrencies.
“The World Economic Forum predicts that 10% of global GDP will be stored on a blockchain by 2027. This rapidly growing asset class urgently needs bank-grade secure custody infrastructure. Since 2017 Brane has been developing a secure custody solution for cryptocurrencies and intends to be at the forefront. Global investment in infrastructure solutions for the cryptocurrency market is accelerating. Leonovus hyper-secure data storage technology has the potential to play a key role in protecting blockchain assets as well as standard digital data,” said Michael Gaffney, CEO, Leonovus Inc.
We are truly living in a digital age with the explosion of the cryptocurrency and cybersecurity markets. Although many are still standoffish towards recent technological developments, we are undeniably transitioning into an increasingly digital world with the introduction of tacky NFTs, blockchain and bitcoin. With this in mind, the protecting of digital assets has become increasingly important as the digital market creeps its way into our daily lives. That’s where companies like LeoNovus and Brane come into play.
Brane is a blockchain innovation company focused on helping organization understand and ‘unlock’ the power of blockchain and digital assets. Ironic considering the purpose of blockchain is to essentially lock and secure digital assets. Semantics aside, LeoNovus is comparable to Brane in the sense that both companies are centered around protecting assets stored digitally. LeoNovus is a secure data management software company with a suite of data management tools at its disposal. These tools are intended to provide organizations with cybersecurity protection for their data.
“We are very excited to be working with Leonovus on this project, bringing together technology that secures both data and cryptocurrencies to the high standards demanded by financial institutions, governments, and law enforcement agencies,” said Adam Miron, CEO and Chair, Brane Inc.
With this in mind, LeoNovus and Brane go together like peanut butter and jam. Although LeoNovus stock performance isn’t exactly impressive, a successful pilot testing with Brane, one of the few custodians to be ISO 270001, 27017 and NSIT tier 4 certified, could provide the Company with the boost it needs to excel. LeoNovus’ may not have the most outstanding following, however, it may be worth keeping an eye on the Company leading up to the conclusion of its pilot testing. A successful pilot testing could result in the practical application of LeoNovus’ technology at banks in the future.
LeoNovus’ share price opened at $0.70 and is currently down to $0.67 as of 1:29PM ET.