IOTA Foundation Teams Up with Curv Custody to Expand the IOTA Digital Token Ecosystem

The IOTA Foundation has teamed up with Curv Custody in order to expand the IOTA Token Ecosystem.

The IOTA developers noted that they’re pleased to confirm that the IOTA token will “soon be available” on Curv’s “industrial-grade” digital asset custody platform. With IOTA’s planned Chrysalis network upgrade, Curv aims to become the very first multi-party computation (MPC) custody solution to “incorporate IOTA.”

With its integration with Curv, any app leveraging Curv’s institutional custody solution will have “the ability to support the IOTA token.” This includes exchanges, decentralized finance (DeFi) products such as Celsius (IOTA Lending), Stakehound (Wrapping IOTA onto the Ethereum Network), Staked.Us (Staking IOTA) and Genesis Trading (Regulated Trading Platforms).

One class of Fintech or financial technologies that are “really an enabler” for the DeFi revolution are digital asset custodians, the announcement noted. The IOTA developers also mentioned that custodials enable crypto exchanges, funds and decentralized applications (dApps) by helping them with securely managing assets in a scalable manner. With IOTA’s planned protocol updates, the team says they will be able to “finally bridge” their DLT to “a whole new ecosystem of powerful tooling.”

By partnering with Curv, large IOTA token holders may be better served because they need a different set of requirements that IOTA’s native wallets are not able to fully support. These might include regulatory, compliance, or legal requirements “imposed on corporations looking to use the IOTA token for industrial use cases.”

The announcement further noted:

“There are many products and services that require the use of a custody solution in order to support a digital asset. Up until now, the IOTA token could not be added to a number of partner platforms, industrial use cases, and popular decentralized finance (DeFi) applications because they all required a custody solution with IOTA support.”

The update also confirmed:

“We’re very excited to see IOTA integrated into Curv and are looking forward to seeing the IOTA token be adopted into an entirely new ecosystem of financial services, exchanges and dApps.”

Curv claims to be the world’s “most trusted” digital asset security infrastructure that’s provided as a “fully” scalable, “enterprise-grade” and compliant Cloud service. Curv’s multi-party computation (MPC) tech offers institutions the protection, “instant” availability, and “total autonomy” over digital assets.

Curv is reportedly the only Cloud-enabled, MPC wallet providers for institutional digital assets and the “first of its kind” to achieve SOC2 Type II Certification and ISO 27001 accreditation.

Curv offers “peace of mind” by insuring up to $50 million of digital assets backed by Munich Re, the Internet-connected crime insurance policy.

Curv is reportedly being adopted by major crypto exchanges, custodians, over-the-counter (OTC) desks, brokers, traditional financial institutions and digital asset managers globally. Launched in 2018, Curv’s head offices are based in New York with R&D offices established in Tel-Aviv, Israel.

As reported in October 2020, BNP Paribas began working with Curv to test digital securities. Also in October, Franklin Templeton led an investment in Curv.

In November 2020, Curv formed a new partnership with Solarisbank subsidiary Solaris Digital Asset. In December 2020, Curv joined forces with ConsenSys to launch a DeFi solution specifically for institutions.

Last month, Curv announced that it would integrate Algorand in its “asset-agnostic” technology infrastructure and Algorand will be leveraging Curv’s solutions for internal use.

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