Florida, USA
New Market Trading, an onchain wealth management firm that gives clients direct ownership of their investment accounts, today announced a 2-of-3 multisig upgrade for client accounts, a security model that requires two of three keys to approve before money can move.
Multisig has long been the standard among exchanges, hedge funds, and institutional custodians entrusted with large pools of client assets. NMT is now bringing that same standard of protection to every one of their client accounts.
The update applies to existing client accounts automatically. Nothing needs to be moved or rebuilt, and clients don’t need any technical background to benefit from it.
How It Works
Every client account now has three keys: one the client holds directly, one held by the client’s NMT associate, and one backup key controlled entirely by the client, which NMT recommends keeping on a separate physical device. Moving money out of the account, or changing who holds the keys, requires approval from two of the three. Since the client holds two of the three keys, they can always act on their own account without needing NMT’s approval.
“Multisig protection has always been available to institutions with the resources to build it themselves. We don’t think our clients should get a lesser version of that security just because they’re managing their own account instead of a fund. This is now built into every account we offer, not something a client has to ask for,” said Frank Hepworth, Founder and CEO of New Market Trading.
Previously, a client’s account was protected by a single key. If that one key was ever lost or stolen, there was no built-in backup. Now, if a key is lost or compromised, the other two can replace it without freezing or moving any of the client’s assets.
Built for Every Client
Setting up this kind of protection typically requires the in-house engineering team of a large exchange or custodian. NMT built it directly into its account technology so any client can benefit from it, without needing any technical setup of their own.
The extra approval step only applies to money leaving the account or changes to who holds the keys. Everyday portfolio activity, like adjusting investments within an approved strategy, still happens automatically and doesn’t require a second approval each time. NMT designed it this way on purpose: stronger protection at the one moment that matters most, money leaving the account, without slowing down everyday management.
“We built this directly into the account itself, not as a setting in our own backend. The two-key requirement is enforced automatically, every time, which means it holds even if something on our end ever went wrong,” said Ajdin Kahrović, Chief Technology Officer of New Market Trading.
Three Ways to Use It
The three keys can be combined in different ways depending on what a client needs:
- The client’s key and their backup key together let the client act completely on their own, including replacing their NMT associate, without needing anyone else’s approval.
- The client’s key and their Associate’s key can individually conduct everyday management activity.
- The backup key and the associate’s key together keep the account moving if the client’s primary key is ever temporarily unavailable.
No single key, including NMT’s, can withdraw or change account ownership on its own.
It guards against a single lost or stolen key, but not against every scenario, such as two of the three keys being compromised at once, a client approving something they shouldn’t have, or a flaw in the underlying smart contract or blockchain network the account runs on. NMT recommends clients store their backup key’s recovery information somewhere separate from their main key’s.
The upgrade is available now to existing NMT clients and applies automatically, with no action required to move or migrate assets.
For more information about New Market Trading’s account model, visit newmarkettrading.com.
About New Market Trading
New Market Trading is the first wealth management firm to move the investment account itself onto the blockchain. Clients own their account directly using ERC-4337 smart account technology, and delegate trading management to the NMT team, who can execute strategies but never withdraw or redirect funds.
That structure gives clients immediate access to more than 10,000 onchain assets, yield products, and active strategies that no legacy provider can offer.
