The market for cryptocurrency cold storage wallets is heating up as eager users and merchants seek solutions beyond the clunky hardware solutions that exist today. Roman DBDR Tech Acquisition Corp., a special purpose acquisition company, is at the forefront of this digital asset revolution after its proposed acquisition of CompoSecure LLC (CompoSecure), a pioneer and category leader in premium financial cards. The company’s merger with CompoSecure marks a crucial milestone in Roman DBDR’s digital asset technology strategy as it includes the launch of Arculus, a next-generation cryptocurrency cold storage hardware wallet.
CompoSecure’s innovative cryptocurrency security solution, Arculus, leverages the company’s 20-plus years of payment card technology and security expertise to advance overall cryptocurrency adoption. Arculus combines the ease of use of a hot wallet with the safety and security of cold storage, allowing the consumer to maintain control of its digital assets. Arculus has groundbreaking transactional capabilities that enables users to store and manage their digital assets through a highly secure payment card form factor and intuitive mobile wallet, incorporating a unique three-factor authentication system.
“We’re excited to bring a missing element to cryptocurrency wallet solutions. The missing piece of the equation has been delivery of a secure and transactionally capable hardware cold storage wallet, where control of one’s cryptocurrency resides solely with the individual. Arculus’ distinction is in its diverse and secure transactional capabilities. This includes markets such as online gambling, where Arculus can firmly identify users before a large bet is placed, and in online gaming to allow in-game purchases to be managed on a blockchain and within a customer’s digital wallet as opposed to in-game storage,” said Dr. Donald Basile, Co-CEO and Chairman of Roman DBDR.
Arculus elevates the standard in the crypto space when it comes to security and payments. The sleek metal card is air-gapped and contains an EAL 6+ embedded secure element, the highest assurance level of security. The card also must be physically near the mobile device to enable transactions and combines this factor with your personal pin and the biometric security of your mobile device (e.g., fingerprint or facial recognition). The card not only allows consumers to control their own private crypto keys, but it also makes providers feel comfortable entering the crypto market.
"After reviewing numerous business combination opportunities, CompoSecure stood out as a leading platform company that is highly profitable and has technology to enable customers to take advantage of the blockchain and digital asset revolution. We envision a broad ecosystem of hardware, software, payments and services capabilities, and look forward to building and scaling that ecosystem to an over billion dollar net revenue stream by 2025. Combining CompoSecure’s proven business, focus on innovation, superior manufacturing expertise and experienced management team with Roman DBDR’s track record of creating and scaling large market opportunities, we believe this company has significant long-term growth potential,” Basile added.