Crypto Custody Firm Curv Nabs New Funding from Global Asset ManagerOctober 22, 2020
Israeli startup, Curv, which provides security infrastructure for digital assets, has secured additional funding from fintech VC Illuminate Financial Management and Franklin Templeton, one of the world’s largest asset management groups.
The fresh investment expands Curv’s Series A funding round to $30 million and comes nearly three months after it recently brought in $23 million. The initial round drew investment from industry players such as CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8 and Digital Garage Lab Fund.
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The crypto security infrastructure developer indicated it plans to use the new funds to pursue multiple objectives, including international growth, hiring new staff, fueling expansion and the development of new products.
“Our newest investors approached us immediately after the Series A closing and expressed interest in joining the round. The addition of Franklin Templeton is a barometer of the traditional industry’s shift into digital assets and a broader desire to bring public blockchain-based offerings to market. Curv provides these institutions with the enterprise-grade infrastructure they require to securely deploy these solutions,” said Itay Malinger, Curv Co-founder and CEO.
Curv is headquartered in New York, but its research and development offices are located in Tel-Aviv. The two-year-old promotes its multi-party computation (MPC) security technology, which includes hot and cold wallet deployment, and keyless security infrastructure backed by a team of cryptographers and cybersecurity experts.
Curv products are already used by both traditional investment companies that seek to expand into the digital asset space, as well as crypto-native institutions, such as eToro and Genesis. Customers across the globe leverage Curv’s infrastructure to transfer, store and manage digital assets on any blockchain.
“Curv’s cloud-based service and tech stack eliminates the concept of private keys through multi-party computation (MPC), allowing for blockchain transaction signing in a secure, distributed way to protect against cyber breaches and insider collusion,” said Joe Boerio, Chief Risk & Transformation Officer at Franklin Templeton.
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