According to Foresight News, according to CoinDesk, the crypto custody platform Qredo was renamed Zenrock after being acquired and reorganized by 10T Holdings and 1RoundTable Partners in February this year. Zenrock aims to solve the lack of security in DeFi by managing private keys through decentralized multi-party computing (MPC) wallets. Zenrock adopts a hybrid security model, with its own tokens and EigenLayer to protect the security of the protocol. Zenrock plans to adopt a trading model, and the technology will be available to developers, institutions and individual investors. The platform is currently in the testnet stage and is scheduled to be launched later this year.

Previously, Zenrock announced on August 19 the launch of a decentralized wrapped Bitcoin token called zenBTC.