Parfin and Sepior Partner to bring Digital Asset Custody Solutions to Latin America, North America and Europe
By Edlyn Cardoza
Parfin, the British-Brazilian FinTech company building digital asset solutions for institutional customers, has announced today a partnership with Sepior, a Danish company specialized in Multiparty Computation (MPC) for Threshold Cryptography.
The partnership will enable the offering of a world-class custody solution that can be installed on-premises as a software-only product. The solution is aimed at traditional financial institutions such as banks, asset managers and hedge funds as well as major players in the rapidly evolving digital asset space.
Alex Buelau, CTO of Parfin said “We have been working closely with Sepior for many months and have been impressed by their cryptographic technology and the phenomenal team of scientists that includes big names such as Ivan Damgård, one of the world’s top cited academics publishing research in cryptography and recipient of several awards in the cryptography and mathematics fields.”
MPC technology makes it possible to create blockchain transactions without ever generating a complete private key, relying instead on “key shares” that are stored and used in a distributed way and never recombined, significantly reducing the risks of loss and theft. Sepior’s Advanced MPC provides future-proof and flexible custody infrastructure technology delivering the best possible security, scalability, and performance for online or offline transactions on any device from anywhere.
“Parfin has created a powerful and unique platform that uses Advanced MPC by Sepior™ at its core, to provide custody services with a layer of governance, reporting and regulatory compliance that makes it ideal for institutional customers”, said Ahmet Tuncay, CEO of Sepior. “Parfin’s founders have a long and respected standing in banking and fintech, providing them with unmatched insight and relationships to perfectly align our joint technologies with the needs of our customers.”
The product offering will be one of the very few MPC custody solutions in the market that can be fully installed by customers as a software-only solution on-premises or in a hybrid cloud setting. The companies will continue to work together to improve the field of MPC custody, both from a scientific and business perspective. “The goal is to offer a world-class, highly secure and efficient custody solution for digital assets including cryptocurrencies, tokens, NFTs, CBDCs and other types of assets” says Marcos Viriato, CEO of Parfin.
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