Paribu announced Paribu Custody, offering digital asset custody services and management opportunities for corporate customers.
By providing independent wallets and a secure end-to-end infrastructure, Paribu Custody provides custody of digital assets to many institutions such as banks, financial institutions, cryptocurrency transaction platforms, insurance companies, decentralized financial institutions and startups in the blockchain ecosystem. will provide services. To store and manage your digital assets.
Developed by Paribu’s experienced team of engineers and software, Paribu Custody was built with international academic disciplines, experience in blockchain and digital assets, comprehensive security analytics and expertise in data storage. Paribu Custody, Turkey’s only company in digital asset storage security with its superior storage service, sets the security standards in Turkey and stands out from its global competitors with its ColdShield® technology.
Using its proprietary ColdShield® brand technology, the service offered by Paribu Custody securely stores digital assets in today’s world. In tomorrow’s world, it will be marked; It continues to be developed to enable secure end-to-end storage of all Physical World Assets (RWA) such as real estate, negotiable instruments, official documents, event tickets and art at the corporate level.
After the implementation of the Law on Crypto Assets on July 2, 2024, the use of custody services that ensure the protection of user assets has become a necessity, and Paribu Custody provides digital asset storage services to these entities. Who wants to comply with this new rules. Regulate and continue your activities.
Multi-layered security architecture
ColdShield® technology, developed by the Paribu custody team, provides complete asset protection and privacy for its customers with its multi-layered security architecture created by combining MPC, SGX and HSM technologies. This security structure allows users to split their private keys into multiple parts and distribute them to different parties. These distributed sections are kept in a completely isolated environment and no person or entity can access the private key sections. This method, which allows each party to create a partial signature using its own fragment without having to collect private key fragments during transfer, also eliminates the risk of a single point of error.
Storage services for various needs
The platform provides an opportunity to separate wallets as main and proxy wallets to increase security. It caters to different asset storage needs with cold, warm and hot work area options. In addition, the private keys of each workspace created on the platform are stored in multiple partitions.
Easy to use features
Processes performed on the Peribo Custody Platform can be automated through an API. In addition, thanks to the staking service, which aims to simplify the process of staking crypto assets for institutional investors, institutions can perform staking transactions without having to deal with technical integration. In addition, the platform’s mobile application provides full control over every step, from initiating transactions to confirming them with a signature.
Regulatory compliance
The Paribu custody platform enables institutions to manage money laundering and anti-terrorist financing (AML) compliance controls from a single interface. In this way, organizations can secure their regulatory compliance processes by scanning incoming and outgoing transactions and auditing business relationships.
Paribu Custody carries out a comprehensive Know Your Operator (KYB) process for customers to ensure compliance with legal regulations by all parties it serves and to create a safe working environment.
For what purposes can organizations use this service?
Paribu Custody offers different usage options for different financial institutions and blockchain ecosystem participants.
With Paribu Custody, banks and financial institutions can access regulatory compliant, secure asset storage and management solutions while providing crypto asset services to their customers. Thus, banks and other financial institutions can invest in cryptoassets to diversify their investments and diversify the cryptoasset services they offer to their customers.
Using the digital asset custody services offered by Paribu Custody, crypto asset trading platforms can enhance the security of customer funds in compliance with legislation, by protecting funds offline with a cold wallet solution. can, and can provide protection against, cyber-attacks.
Decentralized finance (DeFi) organizations and projects can use Paribo Custody to secure liquidity providers or users’ assets on decentralized platforms. Paribu Custody can reduce smart contract risks by providing a more secure infrastructure for DeFis.
Startups in the blockchain ecosystem can leverage the Paribu custody service to securely store investor assets or project tokens. Paribo Custody can increase investor confidence and reduce operational risks by offering custody solutions to startups.
For detailed information about Paribu Custody, you can visit https://www.paribu.com/custody/tr/
About Paribo:
Founded in 2017, Paribu continues its activities as Turkey’s leading technology company in the field of crypto assets. It offers fast, convenient and secure cryptocurrency transaction services to its 7 million customers with its Customer Experience Business Unit, which provides 24/7 service. Paribo, which developed Turkey’s first independent blockchain project, supports various projects in the ecosystem with financial and technical investments. Studying to increase blockchain awareness; It contributes to the world of tomorrow by taking responsibility in the fields of culture, arts, sports and education. ParibuLog, the source of accurate information, publishes industry-related content. For more information about Paribu, you can visit www.paribu.com.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
