In today’s livestream, we unveiled SSP Enterprise: self-custody for businesses. SSP Enterprise is ideal for SMBs interested in securely self-custodying their assets through true multisig functionality.
Wallets reliant on one seed phrase mean that funds stored in that wallet are subject to a single point of failure if the mnemonic phrase is exposed to malicious parties. However, SSP Enterprise is all about true on-chain self-custody.
Through Enterprise Vaults, where businesses create their wallets, support many different blockchain networks, and enable users to transact on testnets. SSP Enterprise is the first multi-signature wallet that allows users to securely transact across multiple networks simultaneously.
How Does SSP Enterprise Benefit Businesses?
Member Configs & Custom Permissions
The Enterprise UI enables businesses to add members to their accounts, assigning them specific roles and access permissions; members can be invited to join via email or using a unique on-chain identifier called SSP Identity.
With Enterprise SSP, every member with transaction signing authority signs from 2 devices, and the organization can configure custom permissions for each staff member added as an account member. Enterprise can be accessed on-chain via SSP or through traditional off-chain sign-in methods such as email or Gmail.
What are the benefits of SSP Enterprise?
Fixed Signing Thresholds
For typical hot wallets, signing thresholds can be changed per transaction, meaning private keys are continuously changing hands, creating a broader risk surface for vulnerabilities. Enterprise supports a tailored range of transaction signers, recommends a signing threshold of 3-5 signers per wallet, and allows unlimited wallet creation.
Once a threshold has been set for a wallet, it remains fixed and cannot be changed. Signers assigned to a wallet remain permanent; once added, they cannot be removed or replaced.
Advanced Analytics
SSP Enterprise consolidates transaction histories for every wallet within a business account, providing a unified record of transactions. When creating a transaction proposal, businesses can select multiple receivers to send funds to multiple wallet addresses simultaneously.
SSP Enterprise allows businesses to set spending policies for account members to dictate transaction amounts or limits. Additionally, businesses can run FluxNodes directly from the Enterprise UI, and Enterprise provides holistic analytics for all activity within SSP and even serves as a basis for tax reporting.
To Close
SSP Enterprise lets organizations essentially run their own on-chain bank: they custody their own assets, determine access to those assets, transact with controlled signing, and maintain thorough records of accounts. Enterprise is a direct path to corporate autonomy for businesses that don’t want to rely on costly third-parties to manage their holdings and portfolios. The future runs on Flux.