Paribu, Türkiye’s pioneering technology company in the crypto asset sector, has announced its new service, Paribu Custody, providing digital asset custody and management for institutional clients globally.

 

With independent wallets and a secure, end-to-end infrastructure, Paribu Custody will serve a wide range of organisations—including banks, financial institutions, cryptocurrency exchanges, decentralised finance entities, and blockchain-focused startups—seeking to securely store and self-manage their digital assets.

 

Unique custody infrastructure

 

Founded in 2017, Paribu provides fast, easy, and secure cryptocurrency trading services to its 7 million users and operates a registered custody company in Türkiye alongside its crypto asset trading platform. With Paribu Custody, it now offers digital asset custody services to institutional clients worldwide.

 

Cem Sağlam, Institutional Sales and Business Development Manager at Paribu, commented, “Developed by Paribu’s skilled engineers and software team, our service sets the standard for digital asset custody security in Türkiye, making Paribu unmatched in the field. Our proprietary ColdShield® technology positions Paribu Custody ahead of global competitors.”

 

Absolute security with multi-layered security architecture

 

Paribu’s ColdShield® technology, integrating MPC (Multi-Party Computation), SGX (Software Guard Extensions), and HSM (Hardware Security Module) technologies, divides customers’ private keys into multiple fragments and securely distributes them to separate parties. These distributed key parts are stored in a fully isolated environment, ensuring that no individual or organisation can access the complete private key.

 

With a multi-layered security architecture, ColdShield® technology prevents private key fragments from being reassembled, even during transfer. This design enables each party to generate partial signatures independently, eliminating single point of failure (SPoF) risks and providing clients with the highest level of asset security.

 

Cem Sağlam highlights that Paribu Custody, advancing even global standards, offers the ability to separate wallets into primary and proxy wallets, meeting diverse asset storage needs with options for cold, hot, and warm storage.

 

All platform processes are automatable via APIs. Additionally, the staking service enables organisations to conduct staking operations for crypto assets seamlessly, without requiring technical integration. Every process can be managed through the Paribu Custody mobile application, providing full control over each step—from transaction initiation to final signature approval.

 

Enables full regulatory compliance and reduces operational risk

 

Paribu Custody enables organisations to streamline Anti-Money Laundering and Anti-Terrorist Financing compliance controls through a single interface, supporting robust regulatory compliance processes. Comprehensive KYB (Know Your Business) procedures are conducted for all clients, ensuring adherence to legal standards and fostering a secure operational environment.

 

Banks and financial institutions can diversify their crypto asset offerings by leveraging Paribu Custody’s secure digital asset management solutions. Cryptocurrency trading platforms benefit from secure, compliant storage for client funds, while DeFi organisations can enhance asset security and reduce smart contract risks. Blockchain startups, meanwhile, can mitigate operational risks and ensure regulatory compliance through the secure storage of investor assets.

 

Paribu Custody is designed to securely store digital assets for today’s needs. Looking to the future, it is being developed to securely manage tokenised real-world assets (RWA) such as real estate, negotiable instruments, official documents, event tickets, and works of art, providing end-to-end corporate-level security.

 

Cem Sağlam concluded: “Paribu, the developer of Türkiye’s first independent blockchain project and the current setter of security standards in crypto asset custody, will continue to build the world of tomorrow.”

 

More information is available at www.paribu.com/custody.

 

This press release was originally published on this site

You May Also Like

BL2 Technology officially launched: fostering the development at On-Chain Scaling Evolution

Recently, BL2 technology in Bitcoin officially launched, brings significant improvements to the overall Bitcoin ecosystem, fostering the…

Mklbit exchange launches AIi quantitative trading

In the booming wave of the digital economy, blockchain technology is reshaping…

CrytocoinMiner receives $100 million in strategic financing, bringing better profits to investors

CrytocoinMiner, a leading decentralized cloud mining platform, announced the completion of a…

StarkDeFi’s ReGenesis countdown is on for DeFi solutions hubs campaign

StarkDeFi, a leading provider of DeFi solutions built on StarkNet, is entering…

EDAC FOUNDATION will launch EDAC Coin the 28th of February

EDAC FOUNDATION presents its ICO, taking place at PINKSALE.FINANCE on February 28Th.Picture…

VOLT is on a Roll Ahead of major Weekly Burns and a listing on Huobi in March

March is shaping up to be a momentous month for VOLT, as…

Vinanz to Present at the Blockchain & Digital Asset Virtual Investor Conference April 25th

Vinanz Limited (OTCQB: VINZF and AQSE: BTC), the London listed Bitcoin mining…

Floki Announces Major Ad Campaign for Valhalla in the English Premier League for 2024-25 Season

Miami, Florida, 13th August 2024, Chainwire

Intelagen Announces New Sales Leadership to Continue Growth

Saint Petersburg, FL, July 25, 2024 (GLOBE NEWSWIRE) — Intelagen, a leading Google…

ECRA Announces Development of “Ecology + Finance” System to Reshape the Future of Digital Economy and Environmental Protection

EcoAurora (ECRA), an innovative force at the intersection of sustainability and blockchain,…