The IOTA Foundation is working with Curv Custody to expand the IOTA Digital Token Ecosystem

The IOTA Foundation has teamed up with Curv custody to expand the IOTA token ecosystem.

IOTA developers noted that they are pleased to confirm that the IOTA token will be “soon available” on Curv’s “industrial grade” platform for the custody of digital assets. With the planned Chrysalis network upgrade from IOTA, Curv wants to be the first MPC (Multi-Party Computation) solution to “integrate IOTA”.

By integrating with Curv, any app that uses Curv’s institutional custody solution can “support the IOTA token”. This includes exchanges, decentralized financial products (DeFi) such as Celsius (IOTA lending), Stakehound (integrating IOTA into the Ethereum network), Staked.Us (staking IOTA) and Genesis Trading (regulated trading platforms).

One class of fintech or financial technologies that are “really pioneering” the DeFi revolution are digital asset custodians, the announcement said. The IOTA developers also mentioned that custodians enable crypto exchanges, funds, and decentralized applications (dApps) by helping them manage assets securely in a scalable manner. With the planned protocol updates from IOTA, the team can “finally bridge” its DLT in order to create “a completely new ecosystem of powerful tools”.

By partnering with Curv, large IOTA token holders may be better served as they have other requirements that the native IOTA wallets cannot fully support. These can be regulatory, compliance or legal requirements that “are imposed on companies that want to use the IOTA token for industrial use cases”.

The announcement goes on to say:

“There are many products and services that require a custody solution to support a digital asset. So far, the IOTA token could not be added to a number of partner platforms, industrial use cases and popular DeFi (Decentralized Finance) applications as they all required a depot solution with IOTA support. “

The update also confirmed:

“We are very excited about the integration of IOTA into Curv and look forward to the IOTA token being adopted into a completely new ecosystem of financial services, exchanges and dApps.”

Curv claims to be the “most trusted” security infrastructure for digital assets in the world, delivered as a “fully” scalable, “enterprise-grade” and compatible cloud service. Curv’s MPC (Multi-Party Computation) technology offers institutions protection, immediate availability and complete autonomy from digital assets.

Curv is reportedly the only cloud-enabled MPC wallet provider for institutional digital assets and the “first of its kind” to receive SOC2 Type II certification and ISO 27001 accreditation.

Curv provides “peace of mind” by insuring up to $ 50 million worth of digital assets backed by Munich Re, the internet-related crime insurance company.

Curv is reportedly being adopted by major crypto exchanges, custodians, over-the-counter (OTC) desks, brokers, traditional financial institutions and digital asset managers around the world. Curv’s headquarters was founded in 2018 and is headquartered in New York. The research and development offices are located in Tel Aviv, Israel.

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

In November 2020, Curv entered into a new partnership with the Solarisbank subsidiary Solaris Digital Asset. In December 2020, Curv and ConsenSys introduced a DeFi solution especially for institutions.

Last month, Curv announced that it would integrate Algorand into its asset agnostic technology infrastructure, and Algorand will leverage Curv’s solutions for internal use.

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