Penta Security, a provider of IT and blockchain security solutions, and blockchain software firm R3, announced today a new strategic partnership for digital asset management and MPC (Multi-Party Computation) technology.
The alliance brings together deep skills in MPC, blockchain key management solutions, technology development, and deployment in the finance sector via R3’s enterprise blockchain platform Corda.
With technology and services playing a critical role in digital asset payment and management aspects, the demand for a safer digital asset and private key management solution is dramatically increasing.
As a result, Penta Security is expanding into the finance industry with its MPC tech, which is based on the secret-sharing algorithm, and PALLET, an advanced key management solution for blockchain.
“Coupling our Corda platform with Penta Security’s MPC technology will be one step closer to addressing the industry demand for secure digital asset management. We are proud to be partnering with Penta Security to deliver an industry-leading solution and look forward to them achieving continued success in the future.”
– Cathy Minter, Chief Revenue Officer at R3
Both parties will be heading to achieve goals through various new projects by forming a software enterprise firm, in addition to deploying Penta Security’s MPC technology on R3’s major projects.
“There’s no doubt that the private key to successful blockchain deployment is the most important asset. We believe Penta Security’s MPC and digital asset management technology can provide an ideal key protection solution for both blockchain and digital asset key protection. By diversifying our offerings through strategic partnerships, we’re excited to be devoting our expertise in the evolving blockchain scene.”
– Dr. Sim, Chief Technology Officer at Penta Security
PALLET supports BTC, ETH, ERC20 tokens, BCH, ETC, LTC, XRP, ATOM, AMO, ATZ, ALM, and ONT.