Digital asset security infrastructure Curv has secured $23m for its Series A round, as it releases its new tX service.
Commitments to the round came from CommerzVentures, Coinbase Ventures, Digital Currency Group, Team8 and Digital Garage Lab Fund.
Capital from the round will be used to boost the company’s international expansion, build new solutions within tX and hire more staff.
tx is an elite group of cryptographers and engineers that leverage Curv’s technology to create deployment models for crypto-native and traditional financial institutions.
Curv is building traditional and crypto-native demand for digital assets via a multi-party computation security technology. Its platform enables the safe transfer, storage and management of digital assets on a blockchain or distributed ledger technology platform.
A study from Fidelity Digital Assets found that nearly 80% of institutional investors in the US and Europe understand the appeal of digital assets and more than a third have invested into them. In 2019, the percentage of US investors engaged with cryptocurrency was 9%, in 2020 that percentage is 22%, it claims.
Curv CEO Itay Malinger said, “Despite a challenging economic climate, we’re seeing strong growth among traditional financial institutions, who require our enterprise-grade security infrastructure, robust governance engine and seamless integration with blockchain technology.
“Unlike other legacy solutions, we simultaneously deliver the protection, instant liquidity and complete control required for all institutions to thrive in the digital asset economy.”
Curv’s customers includes Franklin Templeton, which uses the technology to expand into the digital asset market.
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