★ Company Profile
NGRAVE is a blockchain security technology company, the full name of NGRAVE SA, founded in 2018 and headquartered in Brussels, Belgium(The specific address is not disclosed).
NGRAVE focuses on providing high-security cryptocurrency hardware wallet solutions, aiming to protect users' digital assets from hacking and loss risks. The company builds an end-to-end crypto asset security ecosystem through its flagship product "NGRAVE ZERO" hardware wallet, backup tool "GRAPHENE" and mobile application "LIQUID".
★ Regulatory Information
NGRAVE does not explicitly disclose financial license numbers that are directly regulated by or held by specific financial regulatory authorities
★ Trading Products
NGRAVE does not directly provide trading products, but supports the following crypto asset management services through hardware wallets:
cryptocurrency storage: In 2023, it supports Bitcoin (BTC), Ethereum (ETH), non-fungible tokens (NFTs) and a variety of ERC-20 tokens (such as USDC, DAI), and realizes offline cold storage (without connecting to the Internet to prevent hacker attacks) through the "NGRAVE ZERO" hardware wallet.
Transaction Signature: In 2023, offline transaction signatures will be supported through the "LIQUID" mobile app and QR code technology, allowing users to execute transactions on third-party exchanges (such as MetaMask, Uniswap), and the wallet will remain air-gapped (no internet connection).
Secret Backup: In 2023, the "GRAPHENE" stainless steel backup tool stores private key recovery phrases, using a cryptographic puzzle design to replace traditional paper backups. As of October 2023, the platform has not disclosed its trading volume or AUM scale, and transactions are executed through third-party exchanges or DEXs. The trading products do not involve forex, CFDs, or other traditional financial assets, and are limited to cryptocurrencies and NFTs. In 2023, "NGRAVE ZERO" supports MetaMask integration, enhancing Web3 transaction security.
★ Trading software
NGRAVE provides the following software to support its hardware wallet ecosystem:
NGRAVE ZERO: In 2023, it provides a 4-inch touchscreen hardware wallet, runs EAL7 certified firmware, supports offline private key generation and transaction signing, and interacts with the "LIQUID" application through QR codes.
LIQUID Mobile App: Launched in 2023 v2.4 (iOS and Android), supports synchronizing accounts generated by "ZERO", displays real-time balances and transaction history, communicates with hardware wallets through QR codes, and maintains offline security. In 2023, the Passphrase function will be added, supporting the creation of multiple hidden wallets.
GRAPHENE Interface: Provides key backup management tools in 2023, with stainless steel puzzle storage recovery phrases without software installation. The platform does not provide a direct trading interface, and transactions need to be made through third-party exchanges (such as MetaMask). In 2023, the "LIQUID" app optimized the portfolio overview, token information, and trading interface, which is mainly in English.
★ Deposit and withdrawal methods
NGRAVE does not directly process deposits and withdrawals, and its hardware wallets support the following asset management methods:
Cryptocurrency deposits: Users generate wallet addresses through "NGRAVE ZERO" and transfer tokens such as BTC, ETH, USDC from exchanges (such as Coinbase) and pay blockchain network fees (such as Ethereum gas fees).
NFT Storage: In 2023, NFT storage on Ethereum and Polygon will be supported, and transfer through third-party marketplaces (such as OpenSea) will be required, with no platform fees.
Transaction Transfer: Users generate a QR code through the "LIQUID" application, sign on "ZERO" and submit it to the exchange, and the transaction fee in 2023 will be determined by the blockchain network.
Fiat currency purchase: In 2023, third-party payment gateways (such as Stripe) support the purchase of "ZERO" hardware wallets in USD or EUR, which requires KYC verification and usually takes 1-3 business days. In 2023, the platform claims that there are no transaction fees, and the cost of minting or transferring NFTs is borne by third-party marketplaces or blockchain networks. Deposits and withdrawals require users to manage private keys, and NGRAVE ensures security through air-gapped technology.
★ Customer Support and Empowerment
NGRAVE empowers users through
safety education: In 2023, encryption security tutorials were published through blogs and Twitter (such as "How to Store Assets Offline", March 2023) to help users understand self-hosting.
Community Incentives: Airdrops and security Q&A were held through Twitter (active in 2023) and Discord in 2023 to attract user participation, with the scale of the event not disclosed.
Institutional support: Customized wallets and security consulting for Web3 projects (such as Vanarchain) were provided in 2023, and ecological integration was announced in March 2023.
User Guide: In 2023, "ZERO" settings, "GRAPHENE" backups, and "LIQUID" operation video tutorials 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 specific training programs or community size.
★ Core Business and Services
NGRAVE's core business is cryptocurrency hardware wallets and security solutions, and its main services include:
Hardware Wallet (NGRAVE ZERO): Provide EAL7 certified offline wallets in 2023, support BTC, ETH, NFT, and ERC-20 token storage, and use 4-inch touch screens and QR code transaction signatures. Keep air isolated.
Key Backup (GRAPHENE): In 2023, stainless steel cryptography puzzles are provided to store private 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, customized "ZERO" wallets (such as the Vanarchain ecosystem, March 2023) will be provided to brands and communities, supporting brand logos and exclusive firmware. Service objects include retail users (crypto investors, NFT collectors), high-net-worth individuals (large asset holders), and institutions (crypto exchanges, Web3 project parties). The operating model generates revenue through hardware sales ("ZERO" retails for about 399 euros in 2023), sales of backup tools ("GRAPHENE" around 99 euros) and customization service fees. In 2023, NGRAVE enhanced Web3 compatibility through MetaMask integration, without disclosing client size or AUM.
★ Technical Foundation
NGRAVE's technical infrastructure is based on blockchain and hardware security:
hardware wallet (NGRAVE ZERO).: In 2023, EAL7 certified firmware is used, running on a dedicated chip (developed in collaboration with Imec), supporting offline private key generation and QR code transaction signing, maintaining air isolation.
Backup Tool (GRAPHENE): Use stainless steel cryptography puzzles in 2023, no electronic components, and rely on physical security to store private keys.
Mobile App (LIQUID): Version 2023 v2.4 runs on iOS and Android, using encrypted communication (SSL/TLS) to interact with "ZERO" without direct connection to the blockchain.
Blockchain protocol: In 2023, Ethereum (ERC-721, ERC-20), Polygon, and BNB Chain will be supported, and transaction data will be obtained through third-party nodes (such as Infura). In 2023, NGRAVE collaborated with Imec (Nanoelectronics Research and Development Center) and COSIC (Industrial Cryptography Research Group) to develop chips and cryptography technologies to ensure hardware security. The platform enhances asset protection through multi-signature wallets (requiring multiple authorizations for added security) and biometrics (such as fingerprints). Cloud hosting (e.g., AWS) or specific server security measures are not disclosed.
★ Compliance and Risk Control System
NGRAVE's compliance and risk control system is based on hardware security and EU regulations:
KYC/AML: In 2023, Sumsub verified the identity of customers who purchased "ZERO" or customized wallets, submitted passports or government IDs, and complied with EU AML5D and international anti-money laundering standards.
Transaction security: Online attacks are prevented by air isolation and QR code signature in 2023, "ZERO" firmware is EAL7 certified, and no backdoor is verified in 2020.
Data Protection: In 2023, user data is stored encrypted, complying with GDPR, and the "LIQUID" app does not store private keys, reducing the risk of leakage.
Risk management: Prevention of private key loss through "GRAPHENE" physical backup and Passphrase function (2023 v1.4 firmware) in 2023, internal audit of smart contracts. In 2023, the EU MiCA regulation (effective June 2023) requires crypto asset service providers to register, NGRAVE does not disclose VASP registration status, and hardware wallet businesses may be exempt from direct regulation.
★ Market Positioning and Competitive Advantage
NGRAVE 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 (no EAL certification), providing the highest hardware security.
Air Isolation: Avoid USB/Bluetooth vulnerabilities through QR codes and offline signatures in 2023, reducing the risk of hacking attacks, differentiating from Ledger and Trezor.
End-to-End Ecosystem: Integrating "ZERO", "GRAPHENE", and "LIQUID" in 2023, providing a complete solution from storage to backup, with undisclosed user size.
Web3 Compatibility: In 2023, Web3 transactions will be supported through MetaMask and Vanarchain integration, enhancing DApp (Decentralized Application) compatibility. Compared to Ledger (multi-purpose wallet) or Trezor (open-source hardware), NGRAVE has advantages in high-end security and offline operation, but its higher price (about 399 euros) may limit retail market penetration. In 2023, the platform promoted "#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 security: In 2023, self-custody will be promoted through "#NotYourKeysNotYourCoins" to enhance users' control over assets and indirectly support financial inclusion.
Technical transparency: In 2023, it passed EAL7 certification and open source some technical details (GitHub repository is not disclosed), improving industry security standards. Specific environmental and social governance (ESG) initiatives, such as carbon emission data or public welfare projects, were not disclosed. In 2023, Ethereum's PoS (proof-of-stake) mechanism reduced energy consumption, and NGRAVE-supported chains (such as Polygon) were also more energy-efficient, without disclosing specific energy data. No public welfare projects were reported in 2023, and security education activities indirectly supported the crypto community.
★ Financial Health
NGRAVE's financial data disclosure is limited:
2020: Received funding from the Flemish government, the European Commission, and the Web3 Foundation, The amount is not disclosed.
June 2021: $732 in community funding through Gitcoin.
2021: Seed round funding with investors including Wood
★ Future Roadmap
NGRAVE has not disclosed a detailed future roadmap, based on 2023 activities, The following are known plans:
Product optimization: In 2023, it plans to upgrade the "NGRAVE LIQUID" application (v2.5 version), add multi-chain support (such as Solana, Avalanche), and launch the v2.4 Passphrase function in 2023 (March 2023).
Ecosystem Expansion: In 2023, it plans to deepen Web3 integration, add DApp support (such as Uniswap, 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, there are plans to add branded customized wallets (such as the Vanarchain cooperation in 2023), aiming to serve more Web3 communities, with no new customer targets disclosed.
Technological Upgrades: In 2023, it plans to optimize the "NGRAVE ZERO" firmware (v1.5 version) to enhance biometrics and transaction speed, with v1.4 already available in 2023. Specific implementation may be affected by crypto market fluctuations, blockchain technology developments, or regulatory changes, without disclosure of new funding plans or specific goals (such as user growth or revenue). In 2023, NGRAVE announced via Twitter (@ngrave_official, March 2023) that it would continue to improve the security of "#TheColdestWallet" without providing a detailed timeline.
★ strategic cooperation ecosystem
NGRAVE collaborates with the following organizations:
Imec (Belgian Nanoelectronics Research and Development Center): Collaborated to develop a dedicated chip for "NGRAVE ZERO" in 2023 and provided nanoelectronics technical support in 2020.
COSIC (Industrial Cryptography Research Group, University of Leuven): Provided cryptographic research support in 2023 and assisted in EAL7 certification in 2020.
MetaMask: Integrated the "NGRAVE ZERO" wallet in October 2023, supporting Web3 transaction signatures and optimizing user experience.
Vanarchain: Integrated into the Vanarchain ecosystem as a major hardware wallet in March 2023, and confirmed cooperation on Twitter on March 24, 2024.
Gitcoin: Received $732 through Web3 community funding in June 2021 ($307 community funding + $425 matching funds).
Binance Labs: Participated in Series A financing in November 2022 and provided strategic support in 2023.
Woodstock Fund, Moonrock Capital: 2021 seed round and 2022 Series A investment, 2023 to support market expansion. In 2020, NGRAVE received funding from the Flemish government, the European Commission, and the Web3 Foundation, and the amount of new funding was not disclosed in 2023. No direct collaborations with traditional financial institutions (such as banks) or large exchanges (such as Binance) were reported in 2023, and the strategy focused on blockchain ecology and Web3 security.
