In a coalition with the cloud-based crypto wallet provider, BNP Paribas, a popular security tokens service provider and Curv, has established a unique and highly successful way of sending security tokens between market players.
With Curv’s advanced cryptography technology, transactions are done using a system called the multi-party computation (MPC). According to this concept, transactions are done using mathematically-proven distributed ways, guaranteeing the security and safety of the private keys involved in the transaction.
Curve and BNP Security Tokens Transfer Poc
The proof of concept (PoC) showed that security tokens could be sent fast, in a secure way, and transparently on the blockchain network.
The PoC was done using the more technologically stricter ERC-1400 standard security token.
CEO and Co-founder of Curv, Itay Malinger, said that BNP Paribas because of it’s a budding partnership with Curv had a very important role in the digital market.
However, to carry out this role, they will require a safe and scalable infrastructure to provide robust custody products to their client base.
He further said,” Curv’s infrastructure is able to meet demands like that of BNP Paribas because of the level of expertise of both organizations involved. We are excited to have back een selected to partner with BNP Paribas on this pivotal engagement.”
New frontiers for BNP Paribas in the security tokens market
BNP Paribas’ Head of Financial Intermediaries and Corporate Client line, Bruno Campenon, said the proof of concept shows the level of commitment BNP has to an integrated custody solution that integrates both the traditional and regulated digital assets. Invariably, this would make BNP well positioned in the market when digital assets’ requirements are in position.
Curv has its head office in New York and is being used by many traditional financial institutions, cryptocurrencies exchange, etc., while BNP is an asset servicing solution in over 30 countries.