With cryptocurrencies enjoying a surge of positive momentum as investors digest the rumblings of the new global order, speculators have their eye on specific digital assets. However, those who are leery about the volatility of the blockchain space but still want exposure may want to consider Twilio (NYSE:TWLO). Although it’s not a direct play on the space, TWLO stock is connected to an increasingly important component of virtual currencies: security infrastructure.

In the precious metals community, a commonly expressed adage states that you don’t own it until you hold it. Ironically enough, this sentiment arguably makes the most sense with cryptos. Unlike other investment classes, people don’t own individual coins and tokens in the intuitive sense. Rather, they own access to digital assets. However, said access can always be compromised, thus incentivizing the development of security protocols.

While data hacks and cyberbreaches represent the most salacious examples of crypto theft, loss of access can occur through various means. Whatever the causes, a 2017 report from forensics firm Chainalysis estimated that 2.78 million and 3.79 million units of Bitcoin (BTC-USD) have been lost.

One particular method of access loss can stem from complications associated with two-factor authentication (2FA) protocols. Under Twilio’s Authy, users’ 2FA codes are encrypted between their devices and the company’s cloud-computing network. Therefore, a device that becomes compromised — accidental damage, loss, theft, etc. — does not need to spell the end of access, so long as users maintain their encryption password.

In contrast, rival platform Google Authenticator, under the Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) umbrella, is tied to the user’s device. Therefore, any compromise to the device will comprise access to the underlying 2FA mechanism, posing huge concerns. But this gives Authy users one less thing to worry about, bolstering TWLO stock.

Further, given that on average, people change their smartphones every three years, Authy’s 2FA protocol being tied to the cloud rather than a specific device results in far smoother transitions for crypto investors. Again, while TWLO stock is not a direct crypto play, security is so vital that it can potentially benefit from the recent lift in digital assets.

On the date of publication, Josh Enomoto held a LONG position in BTC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.