UPDATED 21:51 EDT / JULY 01 2020

BLOCKCHAIN

Digital asset security startup Curv raises $23M

Digital asset security startup Curv Inc. announced today it has raised $23 million in new funding.

The Series A round came from CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8 and Digital Garage Lab Fund.

Founded in 2018, Curv is a developer of digital asset security infrastructure technology designed to help crypto companies and financial institutions create their own digital wallets. Its tX platform, launched to the public alongside its funding announcement, is designed to allow cryptographers and engineers who use Curv’s keyless technology to develop flexible deployment models.

The company offers multiparty computation security technology that it says is a critical requirement to transfer, store and manage any digital asset safely on any blockchain or distributed ledger. Curv’s keyless MPC technology and tech stack enables the delivery of customized digital asset security solutions that are both scalable and adaptable with support hot, warm and cold wallet configurations as well as all tokens and protocols.

Traditional public key infrastructure on blockchains offer single private keys for access, creating what Curv argues introduces a single point of failure. MPC eliminates private keys, signing every transaction in a secure, distributed way to protect against cyberbreaches, physical damage and insider collusion. The technology is described as more efficient and lower cost than multisignature wallets by simplifying management, network fees and hidden gas costs. Customers using Curv’s MPC technology save 60% to 70% in transaction costs, the company said.

Curv has dozens of customers globally, notable among them Franklin Templeton, eToro and Genesis.

“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,” Itay Malinger, chief executive officer of Curv, said in a statement. “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.”

Including the new funding, Curv has raised $29.5 million to date. Previous investors include Jump Capital and Flybridge.

Image: Curv

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