Crypto wallet startup Curv secures $6.5M in seed funding

Crypto wallet startup Curv has raised $6.5 million in a seed funding round led by Team8 and Digital Currency Group.

The funding round also saw participation from Flybridge Capital, Jump Capital, Monex Group and Liberty City Ventures.

Headquartered in New York, Curv on Tuesday unveiled its cloud-based Institutional Digital Asset Wallet Service that will simplify managing and securing all digital assets. The service will give financial institutions and enterprises strong security, instant availability, and total autonomy over all their digital assets.

Using proprietary multi-party computation (MPC) protocols, the Digital Asset Wallet Service eliminates the concept of private keys, so that each and every transaction is signed in a fast, secure, distributed way to protect against cyber breaches, physical damage, and insider collusion, Curv explained.

In addition, the service replaces the need for both cold and hot wallets with a scalable, software-only, cloud-based service. It also offers a flexible, enterprise-grade policy engine that allows institutions to define risk profiles and enforce granular controls for all employees, machines and wallets, assuring compliance with organizational policies across all digital assets.

"Curv is building best-in-breed technology solutions for digital asset custody. The company's institutional grade wallet, which uses the most advanced cryptographic methods, provides the security and control that institutional investors entering this emerging asset class will expect," said Travis Scher, VP, Investments at Digital Currency Group.

According to the official release, the Institutional Digital Asset Wallet Service is a subscription service that will be available starting March 25, 2019. It is currently being used in a private beta with exchanges, custodians, fintechs and institutional investors located around the globe.

"We are focused on unleashing the potential of blockchains with our revolutionary approach to digital asset security," said Itay Malinger. "We give customers a way to securely integrate and manage all their digital assets, so they can easily transact and thrive in the digital world."