Crypto APIs, Sepicor launch MPC Wallet-as-a-Service

Monday 15 November 2021 11:38 CET | News

Bulgaria-based Software-as-a-Service startup Crypto APIs has launched an improved Wallet-as-a-Service (WaaS) to provide SMEs, enterprises, and institutions with an improved multi-currency digital wallet.

The service utilises an advanced Multi-Party Computation (MPC) cryptographic key management method, provided by Sepior, a Denmark-based security software company specialising in threshold cryptography. The MPC wallet reportedly encompasses the highest cryptographic security standards and is a preferred solution for cryptocurrency transactions by individuals, businesses, and institutions.

Sepior’s encryption provides Crypto APIs’ clients with an enterprise-grade security for signing digital transactions by distributing the key shares and their control among several parties. This model eliminates private keys and the inherent risks of their management by ensuring that key shares never become public, or even leave their holder’s domain.

Crypto APIs’ customers can choose between three types of digital wallets, including the option for an on-premises key management (MPC-nodes hosted by customers) and custom signing scheme. All digital wallets have a backup encrypted by customer RSA key. The Bulgarian startup also provides an open-source tool that allows users to recover their wallets in case of an emergency.

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Keywords: SaaS, partnership, cryptocurrency, digital wallet
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies