CYBAVO, a provider of a cryptocurrency vault and wallet manager for enterprise, announced today that its 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 will see Sepior’s private key protection technology 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 threshold signature (ThresholdSig) technology, using multiparty computation (MPC), provides a high level of security in private key encryption and transaction signatures. ThresholdSig also ensures that the complete private key is never present in any device.
[perfectpullquote align=”full” bordertop=”false” cite=”Paul Fan, CEO of CYBAVO” link=”” color=”” class=”” size=””]“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.”[/perfectpullquote]
[perfectpullquote align=”full” bordertop=”false” cite=”Ahmet Tuncay, CEO of Sepior” link=”” color=”” class=”” size=””]“CYBAVO’s holistic approach to security is exactly what the industry needs to set new benchmarks for cryptocurrency security and transaction efficiency. 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.[/perfectpullquote]
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 holistic 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 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.