BNP Paribas Securities Services, in partnership with Curv, a cloud-based digital asset security infrastructure for financial institutions, announces the successful completion of a proof of concept to transfer security tokens securely between market participants.
As part of this engagement, BNP Paribas Securities Services and Curv transferred a security token using Curv’s multi-party computation solution to ensure the security of the private keys. Curv’s solution enables transactions to be signed securely in a mathematically-proven and distributed way.
This successful proof of concept helped to demonstrate that tokenised securities can be transferred quickly, safely and transparently on the blockchain.
As a leading global custodian, BNP Paribas Securities Services continually seeks to anticipate its clients’ needs and is carefully preparing for the development of custody solutions for regulated digital assets.
Itay Malinger, Co-founder and CEO of Curv said:
“Global financial players like BNP Paribas have the opportunity to play a vital role in the digital economy. To do so they require a secure and scalable infrastructure to deliver competitive custody products to their customer base. Adopted by leading financial institutions worldwide, Curv’s infrastructure is able to meet these needs and support the acceleration of innovative programmes like the one BNP Paribas is spearheading with its technology and cryptographic expertise. We are excited to have been selected to partner with BNP Paribas on this pivotal engagement.”
Bruno Campenon, Global Head of Financial Intermediaries and Corporates Client Line at BNP Paribas Securities Services, said:
“This proof of concept with Curv represents a significant step forward in our strategy to deliver an integrated custody solution that combines both traditional and regulated digital assets. We are now well positioned to deliver an exciting new service to our clients once regulations on digital assets are in place.”
To carry out this transaction, BNP Paribas Securities Services and Curv used the ERC1400 token standard.
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About BNP Paribas Securities Services (securities.cib.bnpparibas)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
About Curv (www.curv.co)
Curv is the world’s most trusted digital asset security infrastructure that is delivered as a fully scalable, enterprise-grade and compliant cloud service. Curv’s multi-party computation (MPC) technology simultaneously provides institutions the protection, instant availability, and total autonomy over digital assets required to thrive in the digital economy. The company is the only cloud-based, MPC wallet provider for institutional digital assets and the first of its kind to achieve both SOC2 Type II Certification and ISO 27001 accreditation. Curv also provides additional peace of mind by insuring up to $50M of digital assets backed by Munich Re, the only Internet-connected crime insurance policy to date and one of the largest policies in the market. Curv is swiftly being adopted by leading exchanges, custodians, OTC desks, brokers, traditional financial institutions and digital asset managers. Founded in 2018, Curv is headquartered in New York with R&D offices in Tel-Aviv, Israel.