Curv, a New York-based blockchain company has recently launched an Institutional Digital Asset Wallet Service designed to suit the needs of major players in the financial industry who require additional security and freedom in the crypt space.
Curv is Blazing the Trail
The slow adoption of cryptocurrencies by institutions had been credited to how complex the operation is and single point of failure associated with the private keys needed to sign blockchain transactions. This is what the company is trying to fix. In its endeavour to fix this, the company has announced a seed funding of $6.5 million. This funding round was led by Team8 and some other leading investor in digital asset companies like Japan’s Monex Group.
According to a press release from the company, the crypto industry needs an alternative to “private keys that maintains the cryptographic layers of security required for blockchain operations.” By introducing this type of revolutionary cryptography, Curv aims to eliminate these problems.
Nadav Zafrir, co-founder and CEO of Team8, stated:
“Curv is solving the eternal trade-off between security and availability. No longer do institutions or enterprises need to maintain physical security that doesn’t scale or hot wallets that are difficult to integrate and secure. Curv gives them a single solution that does it all.”
Several other key people industry has shown support for the initiative. A good example is a Co-founder and Chief Product Officer of eToro and advisor to the company, Ronen Assia.
Assia stated that:
“Curv makes it easier for institutions to manage digital assets by ensuring that each and every transaction is secure. eToro believes that in the future all assets will be tokenized and that we will see the greatest transfer of wealth ever onto the blockchain. As we grow our digital asset offering we are looking to work with innovators such as Curv in order to provide the best possible service to our customers.”
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