NEW YORK and BOSTON, Jan. 28, 2021 /PRNewswire/ -- Curv, the world's most trusted digital asset security platform, and Algorand, a world-class blockchain powering secure and efficient frictionless exchange, today announced a partnership that will see Curv integrate Algorand within its asset-agnostic technology infrastructure. Algorand will also be leveraging Curv's solutions for internal use.
The partnership will allow institutions to build the most secure wallet functionality into applications on the Algorand open source proof of stake network, using Curv's industry-leading multi-party computation (MPC) technology, and will enable Curv's customers to transact and store ALGO and ALGO-based ASA tokens.
Josh Schwartz, COO of Curv, said: "We're delighted to add ALGO to Curv's fast-growing portfolio of natively supported assets. We are seeing increasing demand from major institutional firms for a fast, efficient and ultra-secure way to trade and hold digital assets across ledgers. Our partnership with Algorand will spur investor participation in the digital asset class."
"As DeFi and CeFi converge, we are thrilled to partner with Curv and bring their leading digital asset wallet solution to Algorand's institutional users," said W. Sean Ford, COO of Algorand. "Algorand and Curv have an aligned vision for advanced technology that is required to modernize financial systems of the future. We look forward to the opportunities for our users that this partnership will enable."
Edward Woodford, CEO and Co-Founder of Zero Hash, said: We are pleased that Curv is supporting Algos and Algorand Standard Assets, which are frequently requested by our clients. Zero Hash is now easily able to expand our digital asset settlement platform to include these two fast growing assets. In particular, Algo has attracted attention from clients who wish to use it to earn yield from staking and to settle existing stable coins quickly via the Algorand protocol."
Curv's cloud-based, battle-tested MPC-based infrastructure eliminates the single point of failure by removing the need for a private key to transact. The company's off-chain, distributed approach delivers the safest, most reliable and scalable way to sign transactions and manage any digital asset on any blockchain. The only firm to offer digital asset insurance protection up to $50 million, through leading insurance provider Munich Re, and the only MPC solution to achieve SoC2 Type II certification and ISO accreditation, Curv is trusted by crypto native and traditional financial institutions worldwide, including leading investment managers and global banks such as BNP Paribas.
Algorand is providing technology that will allow economies of the future to thrive as the friction is removed from any exchange of value. The blockchain was designed specifically with Layer-1 core primitives that enable global scale, speed, security, finality, and advanced tools (such as Smart Contracts) required for a modern financial system. In enabling faster transactions with far lower fees, Algorand is spurring greater adoption of crypto assets among major financial institutions.
In addition to supporting USDC, Algorand has a wide range of supported stablecoins that includes licensed e-money in Euros, British pounds, and Icelandic krona (all from Monerium); Stablecorp's QCAD (first fully-compliant Canadian-dollar stablecoin); USDT from Tether (the most widely traded stablecoin); Meld Gold (a gold-backed stablecoin); and more.
About Curv Curv is the world's most trusted digital asset security platform. Curv is setting a new institutional standard for digital asset security by using keyless cryptography to deliver the world's most secure, versatile and scalable digital asset security solutions. Curv's unique multi-party computation (MPC) platform gives institutions the bulletproof protection, instant availability, and total autonomy over digital assets required to thrive in the digital economy. The company is the only institutional cloud-based, MPC wallet provider for digital assets and the first of its kind to achieve SOC2 Type II Certification. Curv is swiftly being adopted by leading exchanges, custodians, OTC desks and brokers, traditional financial institutions and digital asset managers. Curv is supported by investors Digital Currency Group, Team8, Flybridge Capital Partners, Jump Capital and Monex Group. Founded in 2018, Curv is headquartered in New York with R&D offices in Tel-Aviv, Israel. For more information, visit https://www.curv.co/.
About Algorand Algorand Inc. built the world's first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction from financial exchange, Algorand Inc. is powering the DeFi evolution by enabling the creation and exchange of value, building new financial tools and services, bringing assets on-chain and providing responsible privacy models. For more information, visit www.algorand.com.