★ Business OverviewNGRAVE
is a blockchain security technology company, the full name of NGRAVE SA, founded in 2018 and headquartered in Brussels, Belgium(The exact address was not disclosed).
NGRAVE focuses on providing high-security cryptocurrency hardware wallet solutions designed to protect users' digital assets from hacking and risk of loss. THE COMPANY IS BUILDING AN END-TO-END CRYPTO ASSET SECURITY ECOSYSTEM THROUGH ITS FLAGSHIP PRODUCT "NGRAVE ZERO" HARDWARE WALLET, THE BACKUP TOOL "GRAPHENE", AND THE MOBILE APP "LIQUID".
★ regulatory informationNGRAVE
does not explicitly disclose the number of a financial license that is directly supervised or held by a particular financial regulator
★ Trading
productsNGRAVE does not directly provide trading products, but supports the following crypto asset management services through hardware wallets:
cryptocurrency storage: In 2023, Bitcoin (BTC), Ethereum (ETH), non-fungible tokens (NFTs) and a variety of ERC-20 tokens (such as USDC, DAI) will be supported, and offline cold storage (not connected to the Internet to prevent hacker attacks) will be realized through the "NGRAVE ZERO" hardware wallet.
Transaction Signature: In 2023, offline transaction signing will be supported through the "LIQUID" mobile app and QR code technology, and users can execute transactions on third-party exchanges (such as MetaMask, Uniswap), and the wallet will remain air-gapped, no network connection.
KEY BACKUP: IN 2023, STORE PRIVATE KEY RECOVERY PHRASES THROUGH THE "GRAPHENE" STAINLESS STEEL BACKUP TOOL, USING CRYPTOGRAPHY PUZZLE DESIGN TO REPLACE TRADITIONAL PAPER BACKUPS. As of October 2023, the platform has no public trading volume or AUM, and transactions are executed through third-party exchanges or DEXs. Trading products do not involve foreign exchange, CFDs or other traditional financial assets, and are limited to cryptocurrencies and NFTs. In 2023, "NGRAVE ZERO" supports MetaMask integration to enhance Web3 transaction security.
★ Trading software
NGRAVE provides the following software to support its hardware wallet ecosystem:
NGRAVE ZERO: In 2023, a 4-inch touchscreen hardware wallet will be provided, running EAL7 certified firmware, supporting offline private key generation and transaction signing, and interacting with the "LIQUID" app via QR codes.
LIQUID Mobile App: v2.4 version (iOS and Android) will be launched in 2023, which supports synchronizing accounts generated by "ZERO", displaying real-time balances and transaction history, communicating with hardware wallets via QR codes, and keeping offline security. In 2023, the Passphrase feature will be added to support the creation of multiple hidden wallets.
GRAPHENE Interface: Key backup management tool in 2023, with stainless steel puzzle storage recovery phrases, no software installation required. The platform does not provide a direct trading interface, and transactions need to be made through a third-party exchange (such as MetaMask). IN 2023, THE "LIQUID" APP HAS OPTIMIZED THE PORTFOLIO OVERVIEW, TOKEN INFORMATION, AND TRADING INTERFACE, WHICH IS MAINLY IN ENGLISH.
★ Deposit and withdrawal methodsNGRAVE
does not directly process deposits and withdrawals, and its hardware wallet supports the following asset management methods:
Cryptocurrency deposits: Users generate wallet addresses through "NGRAVE ZERO" to transfer BTC, ETH, USDC and other tokens from exchanges (such as Coinbase), and need to pay blockchain network fees (such as Ethereum gas fees).
NFT storage: NFT storage on Ethereum and Polygon will be supported in 2023, and it needs to be transferred through third-party marketplaces (such as OpenSea) without platform fees.
Transaction transfer: Users generate QR codes through the "LIQUID" app, sign them on "ZERO" and submit them to the exchange, and the transaction fee in 2023 is determined by the blockchain network.
Fiat purchases: In 2023, the purchase of "ZERO" hardware wallets in US dollars or euros through third-party payment gateways such as Stripe is supported, KYC verification is required, and the processing time is usually 1-3 business days. In 2023, the platform claims that there are no transaction fees, and the cost of minting or transferring NFTs is covered by third-party marketplaces or blockchain networks. Deposits and withdrawals require the user to manage the private key, and NGRAVE ensures security through air-gapped.
★ Customer Support & EnablementNGRAVE
empowers users by:
Safety Education: Publish crypto security tutorials (e.g., "How to Store Assets Offline" in 2023) via blogs and Twitter to help users understand self-custody.
Community Incentives: Airdrops and safety Q&As will be held via Twitter (active in 2023) and Discord in 2023 to attract user participation, with the scale of the event not disclosed.
Institutional support: Provide customized wallets and security consulting for Web3 projects (such as Vanarchain) in 2023, and ecosystem integration announced in March 2023.
User Guide: In 2023, video tutorials on "ZERO" settings, "GRAPHENE" backup, and "LIQUID" operations will be provided through the official website, and the Passphrase function description will be updated in 2023. In 2023, LinkedIn (4,784 followers) reported that users were satisfied with the security of "ZERO", without disclosing the specific training program or community size.
★ CORE BUSINESS AND SERVICES
NGRAVE'S CORE BUSINESS IS CRYPTOCURRENCY HARDWARE WALLET AND SECURITY SOLUTIONS, AND ITS MAIN SERVICES INCLUDE:
HARDWARE WALLET (NGRAVE ZERO): PROVIDE EAL7 CERTIFIED OFFLINE WALLET IN 2023, SUPPORT BTC, ETH, NFT and ERC-20 token storage, with a 4-inch touch screen and QR code transaction signature, Keep the air isolated.
KEY BACKUP (GRAPHENE): IN 2023, IT WILL PROVIDE STAINLESS STEEL CRYPTOGRAPHY PUZZLES TO STORE PRIVATE KEY RECOVERY PHRASES, WHICH ARE RESISTANT TO HIGH TEMPERATURE AND CORROSION, REPLACING PAPER BACKUPS.
Mobile Management (LIQUID): In 2023, the v2.4 mobile app will support account synchronization, balance inquiry, and transaction signature, and cooperate with "ZERO" to achieve Web3 secure interaction.
Customized services: In 2023, we will provide customized "ZERO" wallets for brands and communities (such as Vanarchain ecosystem, March 2023), supporting brand logos and exclusive firmware. The service targets include retail users (crypto investors, NFT collectors), high-net-worth individuals (holders of large assets) and institutions (crypto exchanges, Web3 project parties). THE OPERATING MODEL GENERATES REVENUE THROUGH HARDWARE SALES ("ZERO" RETAILS AT APPROX. 399 EUROS, IN 2023), BACKUP TOOL SALES ("GRAPHENE" AT APPROX. 99 EUROS) AND CUSTOMIZED SERVICE FEES. In 2023, NGRAVE enhanced Web3 compatibility with MetaMask integration, without disclosing customer size or AUM.
★ Technology BasicsNGRAVE's
technical infrastructure is based on blockchain and hardware security:
hardware wallets (NGRAVE ZERO).: In 2023, it will adopt EAL7 certified firmware, run on a dedicated chip (developed in cooperation with Imec), support offline private key generation and QR code transaction signature, and maintain air isolation.
BACKUP TOOL (GRAPHENE): 2023 USES STAINLESS STEEL CRYPTOGRAPHY PUZZLES, NO ELECTRONIC COMPONENTS, AND RELIES ON PHYSICAL SECURITY TO STORE PRIVATE KEYS.
Mobile App (LIQUID): Version 2023 v2.4 runs on iOS and Android, uses encrypted communication (SSL/TLS) to interact with "ZERO", and does not connect directly to the blockchain.
Blockchain protocols: Ethereum (ERC-721, ERC-20), Polygon, and BNB Chain will be supported in 2023, and transaction data will be obtained through third-party nodes such as Infura. In 2023, NGRAVE collaborated with Imec (Nanoelectronics R&D Center) and COSIC (Industrial Cryptography Research Group) to develop chips and cryptography technologies to ensure hardware security. The platform enhances asset protection with multi-signature wallets (which require multi-party authorization for added security) and biometrics (such as fingerprints). No disclosure of cloud hosting (e.g., AWS) or specific server security measures.
★ Compliance & Risk Control SystemNGRAVE's
compliance and risk control system is based on hardware security and EU regulations:
KYC/AML: Verify the identity of the customer who purchased the "ZERO" or custom wallet through Sumsub in 2023, submit a passport or government ID, and comply with EU AML5D and international anti-money laundering standards.
Transaction security: Prevent online attacks with air isolation and QR code signing in 2023, "ZERO" firmware with EAL7 certification, and verification without backdoors in 2020.
DATA PROTECTION: IN 2023, USER DATA WILL BE STORED ENCRYPTED IN COMPLIANCE WITH GDPR, AND THE "LIQUID" APP WILL NOT STORE PRIVATE KEYS TO REDUCE THE RISK OF LEAKAGE.
Risk management: Prevent the loss of private keys in 2023 with "GRAPHENE" physical backup and Passphrase function (v1.4 firmware in 2023), internal audit of smart contracts. In 2023, the EU MiCA regulation (effective in June 2023) requires cryptoasset service providers to register, and NGRAVE does not disclose VASP registration status, and hardware wallet businesses may be exempt from direct regulation.
★ Market Positioning & Competitive AdvantageNGRAVE
is positioned as a provider of high-end cryptocurrency security solutions, serving crypto investors and institutions. Its competitive advantages include:
EAL7 certification: In 2023, "ZERO" is the only EAL7 certified financial product in the world, outperforming Ledger Nano X (EAL5+) and Trezor (without EAL certification), providing the highest hardware security.
Air Isolation: Avoid USB/Bluetooth vulnerabilities with QR codes and offline signatures in 2023 to reduce the risk of hacking and differentiate yourself from Ledger and Trezor.
END-TO-END ECOSYSTEM: INTEGRATE "ZERO", "GRAPHENE", AND "LIQUID" IN 2023 TO PROVIDE A COMPLETE SOLUTION FROM STORAGE TO BACKUP, WITH NO DISCLOSED USER SCALE.
Web3 compatibility: In 2023, Web3 transactions will be supported through MetaMask and Vanarchain integration to enhance DApp (decentralized application) compatibility. Compared to Ledger (multi-function wallet) or Trezor (open-source hardware), NGRAVE has advantages in high-end security and offline operation, but the price is higher (about 399 euros), which may limit the penetration of the retail market. In 2023, the platform will promote "#NotYourKeysNotYourCoins" through Twitter, emphasizing the concept of self-custody.
★ Social Responsibility and ESG
NGRAVE's social responsibility focuses on crypto security and user empowerment:
asset securityIn 2023, self-custody will be promoted through "#NotYourKeysNotYourCoins" to enhance users' control over assets and indirectly support financial inclusion.
Technical transparency: In 2023, it will pass EAL7 certification and open source some technical details (GitHub repository is not public) to improve industry security standards. Failure to disclose specific environmental and social governance (ESG) initiatives, such as carbon emissions data or public welfare projects. In 2023, Ethereum's PoS (Proof-of-Stake) mechanism will reduce energy consumption, and NGRAVE-backed chains (such as Polygon) will also be more energy-efficient, with no specific energy data disclosed. No public welfare projects were reported in 2023, and security education activities indirectly supported the crypto community.
★ Financial data
disclosure for financial health NGRAVE is limited:
2020: Funded by the Flemish government, European Commission and Web3 Foundation, The amount was not disclosed.
June 2021: Received $732 in community grants through Gitcoin.
2021: Seed round with investors including Wood
★ Future Roadmap
NGRAVE has not disclosed detailed future roadmaps, based on 2023 activities, The following are known plans:
Product optimization: In 2023, the "NGRAVE LIQUID" application (v2.5 version is planned), multi-chain support (e.g., Solana, Avalanche) will be added, and the v2.4 Passphrase feature will be launched in 2023 (March 2023).
Ecological expansion: In 2023, it is planned to deepen Web3 integration, add DApp support (such as Uniswap and Aave), and complete MetaMask integration in October 2023.
Market expansion: In 2023, it plans to expand the Asian (China, Japan) and North American markets, and in March 2023, it will cooperate with Vanarchain to enter a new ecosystem.
Customized services: In 2023, it is planned to add branded custom wallets (such as Vanarchain cooperation in 2023), aiming to serve more Web3 communities, and the goal of new customers is not disclosed.
Technology upgrades: In 2023, it is planned to optimize the "NGRAVE ZERO" firmware (v1.5 version) to enhance biometrics and transaction speed, and v1.4 has been launched in 2023. Implementation may be subject to crypto market volatility, blockchain technology developments, or regulatory changes, with no new funding plans or specific goals (such as user growth or revenue) disclosed. In 2023, NGRAVE said via Twitter (@ngrave_official, March 2023) that it would continue to improve "#TheColdestWallet" security, without providing a detailed timeline.
★ Strategic cooperation ecology
NGRAVE has partnered with
Imec (Belgian Nanoelectronics R&D Center): in 2023 to develop the "NGRAVE ZERO" dedicated chip, and in 2020 to provide nanoelectronics technical support.
COSIC (Industrial Cryptography Research Group, KU Leuven): Cryptography research support in 2023 and EAL7 certification in 2020.
MetaMask: In October 2023, the "NGRAVE ZERO" wallet will be integrated to support Web3 transaction signing and optimize the user experience.
Vanarchain: In March 2023, it will be integrated into the Vanarchain ecosystem as the main hardware wallet, and Twitter will confirm the cooperation on March 24, 2024.
Gitcoin: $732 ($307 Community Grant + $425 Matching Fund) through Web3 Community Grant in June 2021.
Binance Labs: Participated in Series A funding in November 2022 and provided strategic support in 2023.
Woodstock Fund, Moonrock Capital: Seed round in 2021 and Series A investment in 2022, supporting market expansion in 2023. In 2020, NGRAVE received funding from the Flemish government, the European Commission and the Web3 Foundation, with no new funding amount disclosed in 2023. In 2023, no direct cooperation with traditional financial institutions (such as banks) or large exchanges (such as Binance) was reported, and the strategy focused on the blockchain ecosystem and Web3 security.
