NEW YORK, Nov. 21, 2019 /PRNewswire/ -- Curv announced today that Franklin Templeton, a leading global asset manager, has selected Curv's institutional wallet service to protect digital assets for the firm's new money market fund, whose shares will be recorded on the Stellar Network. Curv's patented multi-party computation (MPC) protocols allow Franklin Templeton to eliminate private keys, a single point of failure in blockchain, and simultaneously secure the way investors sign and manage transactions in a powerful, flexible, and scalable manner.
Roger Bayston, Executive Vice President for Franklin Templeton, said: "Trust underpins everything we do as an asset manager on behalf of our clients. We expect blockchain to play a big part of business going forward and we need partners that enable and build trust to grow investor adoption of digital assets. Curv understood our demanding security requirements and our plans requiring large scale." Bayston continued, "In comparison to traditional tech stacks evaluated, Curv's cryptography changes what is possible in digital asset custody, delivering to our clients instant availability and total autonomy over their investments."
"Franklin Templeton is the first traditional asset manager to tokenize shares on a public blockchain, making this a landmark for the entire industry. We are excited to be working alongside other innovators and first movers in the digital asset space, including the Stellar Network," said Itay Malinger, CEO and Co-founder of Curv.
Curv's platform delivers a simple, distributed way to secure and sign transactions on blockchain technology and is swiftly being adopted by exchanges, custodians, lenders, OTC desks, and asset managers. In May, the company obtained digital asset insurance protection of up to $50m for its customers from Munich RE. Curv recently became the first and only MPC digital asset wallet solution to obtain SOC 2 Type II status.
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