Curv – a US-based crypto wallet service provider recently revealed in an announcement that it has partnered with US-based multinational holding company and investment service provider Franklin Templeton investments.
As per the statement released by the firm, Curv had been chosen by Franklin Templeton for its institutional wallet service to protect digital assets for the investment service provider’s new money market fund whose shares will be recorded on the stellar network. Franklin Templeton opted for Curv as its patented multi-party computation protocols allow Franklin Templeton to eliminate private keys – often viewed as a major point where blockchain technology fails.
Curv’s MPC protocol also allows Franklin Templeton to secure the way investors sign and manage transactions in a powerful, flexible and scalable manner allowing the firm to gain several major advantages that can help attract potential clients.
Curv’s platform delivers a simple, distributed way to secure and sign transactions on blockchain technology and is swiftly being adopted by exchanges, custodians, lenders, OTC desks, and asset managers. In May, the company obtained digital asset insurance protection of up to $50m for its customers from Munich RE. Curv recently became the first and only MPC digital asset wallet solution to obtain SOC 2 Type II status.
The firm is setting a new institutional standard for digital asset security, using revolutionary cryptography to deliver the industry’s first cloud-based Institutional Digital Asset Wallet Service. Curv’s unique, mathematically-secure, keyless platform gives organizations bulletproof protection, instant access, and total autonomy over digital assets.
The Curv service also includes the setup, management, and maintenance of the blockchain infrastructure, which simplifies the adoption of any digital asset without building or scaling the underlying IT infrastructure making its product and service offerings an ideal and attractive option for both retail & institutional-grade financial service providers.
Commenting on their partnership, Roger Bayston, Executive Vice President at Franklin Templeton said, “Trust underpins everything we do as an asset manager on behalf of our clients. We expect blockchain to play a big part in business going forward and we need partners that enable and build trust to grow investor adoption of digital assets. Curv understood our demanding security requirements and our plans requiring a large scale. In comparison to traditional tech stacks evaluated, Curv’s cryptography changes what is possible in digital asset custody, delivering to our clients instant availability and total autonomy over their investments”.
Speaking on the same note, Itay Malinger, Chief Executive Officer and Co-Founder of Curv added, “Franklin Templeton is the first traditional asset manager to tokenize shares on a public blockchain, making this a landmark for the entire industry. We are excited to be working alongside other innovators and first movers in the digital asset space, including the Stellar Network”.