Munich, 26.11.2018 – Black Pearl Digital AG (ISIN: DE000A2BPK34) announces the successful conclusion of the systems specification phase for a customer project, which is now entering its revenue-generation development phase.
Within the project Black Pearl Digital develops and markets in cooperation with a German bank a crypto-wallet software (“SecurePearl”) for asset managers. The SecurePearl software will enable an asset manager to trade digital assets such as crypto-currencies on behalf of his clients as well as to realise proprietary trading strategies in digital asset investing. Apart from basic functions such as know-your-customer-management (“KYC”) and performance reporting, the SecurePearl” wallet will offer a wide range of trading functionality by onboarding a broad range of crypto-exchanges. The company’s high-security wallet will allow secure storage of the clients’ private keys in a so-called “cold storage” mode and will not rely on a financial intermediary. Sensitive data will be stored on a special, off-line server system, that is at no point in time connected to the internet. This architecture is intended to minimise the risk of hacking and to protect customer data at all times.
The software development project will generate revenues in the low six-digit figures and enables Black Pearl Digital AG to market the software initially in cooperation with its customers and in the medium-term exclusively on its own.
Johannes Angermeier, CTO of Black Pearl Digital AG comments:” With the development of the SecurePearl wallet, we can successfully utilise our broad knowledge in distributed ledger technology and advance the built-up of our internal development capabilities. The wallet software will be developed in an agile project management structure in close interaction with our client in order to fully meet the banking customers requirements.
Dr Florian Pfingsten, the company’s CTO adds:” We are very proud to achieve another milestone in the operating development of Black Pearl Digital AG. This success underlines the capabilities of our product development team and the validity of our business model.”