CYBAVO partners with Sepior to protect corporate cryptocurrency wallets with MPC technology
SINGAPORE, 16th April 2019 — CYBAVO Pte. Ltd., CYBAVO’s institutional wallet CYBAVO VAULT will gain the highest available levels of protection thanks to a new partnership agreement between CYBAVO and Sepior. The new agreement allows Sepior’s private key protection technology to be integrated into the CYBAVO wallet. CYBAVO VAULT now offers cryptocurrency exchanges, asset managers, custodians and other blockchain-enabled companies a fully-featured institutional wallet, secured with the industry’s most robust private key protection.
Sepior is a leader in threshold cryptography for securing online transactions. Its state-of-the-art threshold signature (ThresholdSig) technology, using multiparty computation (MPC), provides the highest level of security in private key encryption and transaction signatures. ThresholdSig also ensures that the complete private key is never at any time present in any device.
Paul Fan, CEO of CYBAVO said: “This partnership brings our security standards to a whole new level. Sepior’s cutting-edge cryptographic solutions complement our existing security stack, and through our joint efforts we will be able to provide the most secure and user-friendly institutional wallet in the market”.
“CYBAVO’s holistic approach to security is exactly what the industry needs to set new benchmarks for cryptocurrency security and transaction efficiency”, said Ahmet Tuncay, CEO of Sepior. “The CYBAVO VAULT™, backed by Sepior ThresholdSig™, leverages multiparty computation to provide industry leading security with multiparty approvals, while maintaining the on-chain efficiency of single signature transaction.
CYBAVO VAULT allows the creation of multi-currency corporate wallets and the definition of granular wallet policies — including spending limits, outgoing address whitelist, wallet roles and permissions, or defining multi-level, threshold approval processes.
CYBAVO provides secure turn-key solutions for private key storage and management, including a corporate cryptocurrency wallet, a wallet app SDK and a secure full blockchain node service. Unlike other corporate wallets in the market, CYBAVO follows a wholistic approach to its security-focused design. CYBAVO solutions have been designed by a team of cybersecurity experts, who not only consider security at every layer of architecture — from the operating system where systems run to a strict policy enforcement — but also for the system as a whole. This approach drastically reduces the risk of security breaches enabled by unsupervised integration of multiple components by security-unaware developers — breaches that could lead to private keys leakage and crypto thefts.
About CYBAVO Pte. Ltd.
CYBAVO Pte. Ltd. provides secure and usable cryptocurrency storage and management solutions and services for enterprises and financial institutions. The company portfolio offers different solutions for cryptocurrency exchanges, digital asset managers or custodians.
The company was founded in 2018 by experts from cybersecurity, blockchain and digital currency industries. The company has developers and researchers with solid experience in the security and cryptocurrency fields.
About Sepior ApS
Founded in 2014, in Aarhus, Denmark, Sepior is enabling trust for online financial transactions and enterprise data protection applications, such as cryptocurrency custodial wallets, public or private blockchains, and cloud-based SaaS offerings, using threshold-based multiparty computation (tMPC). Using patented threshold cryptographic protocols, Sepior’s RSA award-winning team of renowned cryptography experts has revolutionized key protection and management required for online security and privacy. The result is a customer-definable security framework that operates with any hardware, virtual device, or platform, using a distributed-trust model, optimized for current and emerging fintech, cloud, IoT, and distributed ledger applications and services, allowing our customers to transact with trust.