Multi-approval system using M of N keys to generate a sweeping transaction at a customer device

A system, comprising:

• at least one vault system, each comprising:
• at least one vault memory storing a respective one of a plurality of private account keys associated with a customer;
• a node implementing a distributed ledger;
• and
• a customer device communicatively coupled to the at least one vault system, the customer device comprising:
• at least one processor;
• at least one memory communicatively coupled to the at least one processor and storing instructions;
• at least one network interface communicatively coupled to the at least one processor and that communicates with the at least one vault system;
• wherein the at least one processor executes the instructions causing the at least one processor to:
• determine multiple private account keys of the plurality of private account keys by at least requesting and receiving one or more of the plurality of private account keys from one or more respective vault systems, at least one of the multiple private account keys being derived from a master private key;
• generate a sweeping transaction indicating a transfer of all funds from multiple input transaction addresses in a customer wallet to a new transaction address;
• derive a respective private transaction key from each of the multiple private account keys;
• cryptographically sign the sweeping transaction using the respective private transaction keys to generate a signed sweeping transaction at least in part by encrypting the sweeping transaction using the respective private transaction keys;
• and
• transmit the signed sweeping transaction to the node;
• wherein the node records the signed sweeping transaction on the distributed ledger.