New York, NY, April 23, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Today Curv, the world’s most trusted digital asset security platform, announced the debut of Curv Air Gap, an industry-first solution that uses Curv’s multi-party computation (MPC) technology to allow clients to supplement their online transactional wallet with an offline, air-gapped machine for signing transactions. The new solution gives institutions greater flexibility in adapting to changing regulations by deploying diverse signing mechanisms and offline storage schemas for key management. Curv Air Gap’s keyless cryptography also solves key security risks of cold wallets and frees institutions from having to make suboptimal tradeoffs between security and asset availability.
Today, regulatory changes are occurring across KYC and AML, but tomorrow it might be licensing or reporting requirements. To ensure institutions remain adaptable as these regulations are enacted, Curv Air Gap allows institutions to decide which transactions across their portfolio are earmarked for signing via an online wallet or an air-gapped machine. Curv clients still benefit from the same level of security, flexibility and scalability inherent in Curv’s wallet service.
Cold wallet access requires physical proximity to the server or hardware on which digital assets are held. Institutions must grant employee access to cold wallets and trust certain employees to manage these assets. This can introduce other types of risks such as insider threats and physical damage. Curv Air Gap solves these challenges by allowing organizations to receive all the benefits of traditional cold wallets without the operational burden or risks of unauthorized access, insider threats, human errors or physical damage.
“We solved the digital asset signature and key generation challenges well over two years ago,” said Itay Malinger, co-founder and CEO of Curv. “Curv Air Gap is our latest, significant mathematical breakthrough based on the specific needs of our customers and partners. So we’re not only implementing MPC for our customers, but also constantly pushing the envelope of what’s possible with MPC technology.”
In the academic community, MPC has always been associated with internet-connected requirements that involved all parties being online. With Curv Air Gap, the mathematical breakthrough allows you to run an MPC protocol with a fully offline (air-gapped) party for the first time.
Curv is used by dozens of customers across the globe and many of them are already onboarding Curv Air Gap, including multi-asset investment platform eToro and leading crypto exchange Korbit, among others. Curv Air Gap is simple and quick to deploy. Key benefits include:
Keyless Cryptographic Security and Threshold Signing
Curv’s security model utilizes MPC protocols, enabling transactions to be securely signed in a mathematically-proven, distributed way without use of a key. Any transaction signed by a Curv air-gapped machine is approved systematically by a quorum. Unlike traditional cold storage, room for error or insider collusion is significantly reduced.
Cloud-based, Software Delivery
Curv Air Gap is a cloud-based, software solution. No specialized hardware or HSM is required. Any organizational machine can be converted into an air-gapped machine. In turn, set-up takes a matter of minutes and there is limited training required to be fully operational.
In addition, Curv Air Gap has several flexible deployment models, provides instant access to any digital asset, and reduces costs by streamlining operations. For more info about Curv Air Gap and how it works, visit https://www.curv.co/.
“We face different regulatory requirements across the globe that require various offline storage models for key management and signing mechanisms,” said Israel Kalush, VP of Engineering of eToro. “Curv Air Gap allows us to quickly and easily meet those requirements, and to address key operational and security limitations of cold wallets. Curv also has the most extensive policy engine and audit capabilities in the market today that allows us to dramatically reduce the operational cost of managing our assets. The fact that MPC is independent of the blockchain allows us to use one infrastructure across all asset types for hot, warm and cold storage.”
About Curv
Curv is the world’s most trusted digital asset security platform. Curv is setting the new institutional standard for digital asset security by using keyless cryptography to deliver the world's most secure, flexible and scalable digital asset security solutions. Curv’s unique multi-party computation (MPC) platform simultaneously provides institutions the protection, instant availability, and total autonomy over digital assets required to thrive in the digital economy. The company is the only cloud-based, MPC wallet provider for institutional digital assets and the first of its kind to achieve SOC2 Type II Certification. Curv also provides additional peace of mind by insuring up to $50M of digital assets via Munich Re, the only Internet-connected crime insurance policy to date and one of the largest policies in the market. Curv is swiftly being adopted by leading exchanges, custodians, OTC desks, brokers, traditional financial institutions and digital asset managers. Curv is backed by investors Digital Currency Group, Team8, Flybridge Capital Partners, Jump Capital and Monex Group. Founded in 2018, Curv is headquartered in New York with R&D offices in Tel-Aviv, Israel. For more information, visit https://www.curv.co
Contact:
Vered Gottesman
VP Marketing
Curv
media@curv.co