Curv, a company focusing on keyless digital asset security infrastructure, has secured a $23M Series A round to fuel institutional adoption in digital assets. Top backers behind the raise included Coinbase Ventures, CommerzVentures, Digital Currency Group, Team8, and Digital Garage Lab Fund.
Accelerating Institutional Adoption
Curv has recently announced a $23M Series A investment round to push forward their development and growth in “tX” , which includes a group of cryptographers and engineers who leverage Curv’s keyless tech to build out flexible solutions for crypto and traditional finance companies globally. Curv plans to fuel institutional adoption in digital assets by offering its “multi-party computation security technology,” which gives clients the ability to safely store, transfer, and manage digital assets on various blockchains. The company plans to use the $23M injection to expand their team, and also plans to drive international growth and innovation within ‘tX” product offerings.
CEO of Curv, Itay Malinger Mentioned That:
“Despite a challenging economic climate, we’re seeing strong growth among traditional financial institutions, who require our enterprise-grade security infrastructure, robust governance engine and seamless integration with blockchain technology. Unlike other legacy solutions, we simultaneously deliver the protection, instant liquidity and complete control required for all institutions to thrive in the digital asset economy.”
Curv Air Gap Product Offering
Curve Air Gap is a first to market solution that uses Curv’s multi-party computation technology to let clients sign transactions offline, align with regulation, and conquer security risks that surface from cold wallets. By utilizing the MPC solution, transactions are securely signed and distributed without the use of a key. Companies like eToro, and Korbit crypto exchange currently use Curv Air Gap to experience keyless cryptographic security, and cloud based software deployment. Keyless cryptographic solutions reduce the room for common mistake or insider plotting that has been known to occur in traditional cold storage. In terms of cloud based software, Curv users across the globe can easily convert to an air gapped machine that reduces costs and enhances operational efficiencies.
Bridging The Gap To Institutional Adoption
According to the company’s site, Curv is bridging the gap to institutional adoption by offering solutions to:
Exchange, Brokers, & OTC Desks: These entities have relied on Curv for back-end infrastructure around hot and cold wallets. By integrating Curv, transactions can be implemented various ways such as employee initiated or machine triggered. This makes it easier for institutions to engage in the management and trading of digital assets.
Digital Asset Fund Managers: Institutions such as hedge funds rely on Curv so that they can securely protect their digital asset holdings. Through a single portal, holdings can be shared on employee devices that are granted the responsibilities. Employees with higher authority can manage or approve any transactions for the fund.
Custodians, Banks, & FinTechs: With Curv focusing on efficiency and security, this gives financial entities the opportunity to incorporate framework that isn’t witnessed in the legacy system right now. Curv’s seamless infrastructure also gives financial institutions the ability to drastically reduce costs, with operational savings that can be put back into the business or client.
Stefan Tirtey, Managing Partner at CommerzVentures stated that:
“Few areas within fintech are as exciting as digital assets. Tokens and coins are increasingly finding their way into asset managers’ books. Curv is unlocking this market with their industry-leading technology and we are happy and excited to partner with Itay, Dan and their impressive team.”
More On Curv
Curv is becoming one of the world’s most trusted companies relating to digital asset security infrastructure. To date, Curv is the only wallet provider for institutions that focuses on a cloud based, multi-party computation framework. In addition, the company is first to market when it comes to obtaining SOC2 Type II Certification. Institutional companies around the globe have on-boarded Curv solutions, knowing that their digital assets are insured up to $50M, based on the current insurance protections that Curv offers its clients. The company was founded in 2018, and operates its headquarters in New York. Additionally, the company has other offices in Tel-Aviv, Israel that primarily focus on R&D.
Image Source: Curv