Curv, a New York-based cryptography company securing the digital economy, raised $6.5m in seed funding.
The round was led by Team8 and Digital Currency Group, with participation from Flybridge Capital, Jump Capital, Monex Group and Liberty City Ventures.
Led by co-founder and CEO Itay Malinger, co-founder and CTO Dan Yadlin, and cryptography forerunners, Jonathan Katz and Ben Riva, Curv just exited from stealth to launch an Institutional Digital Asset Wallet Service that gives financial institutions and enterprises security, instant availability, and total autonomy over all their digital assets.
It eliminates the concept of private keys by using proprietary multi-party computation (MPC) protocols, so each and every transaction is signed in a fast, secure, distributed way to protect against cyber breaches, physical damage, and insider collusion. The system also replaces the need for both cold and hot wallets with a cloud-based service that ensures digital assets are always available and secure, and offers an enterprise-grade policy engine that allows institutions to define risk profiles and enforce granular controls for all employees, machines and wallets, assuring compliance with organizational policies across all digital assets.
The service also includes the setup, management and maintenance of the blockchain infrastructure. This allows customers to adopt any cryptocurrency or blockchain app they want, without having to worry about investing or scaling the underlying IT infrastructure.
The Institutional Digital Asset Wallet Service is a subscription service that will be available starting March 25th, 2019. It is currently being used in a private beta with exchanges, custodians, fintechs and institutional investors located around the globe.
The company has R&D offices in Tel Aviv, Israel.