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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 available “soon” on Curv’s “industrial” digital asset custody platform. With the planned Chrysalis network upgrade from IOTA, Curv aims to become the very first Multi-Party Computing (MPC) custody solution that “includes IOTA”.

By integrating with Curv, any app that uses Curv’s institutional custody solution will “have the ability to support the IOTA token”. These include exchanges, decentralized financial products (DeFi) such as Celsius (IOTA lending), Stakehound (wrapping IOTA in the Ethereum network), Staked.Us (staking IOTA) and Genesis Trading (regulated trading platforms).

One class of fintech or financial technologies that are “really leading the way” for 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 securely manage assets in a scalable manner. With the planned protocol updates from IOTA, the team says that it can “finally bridge its DLT to a whole new ecosystem of powerful tools”.

The partnership with Curv allows large IOTA token holders to be better served as they require other requirements that IOTA’s native wallets cannot fully support. This can include 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 the use of 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 Decentralized Financial (DeFi) applications as they all required a custody solution with IOTA support. “

The update also confirmed:

“We are very pleased about the integration of IOTA into Curv and look forward to the fact that the IOTA token will be included in a completely new ecosystem of financial services, exchanges and dApps.”

Curv claims to be the world’s “most trusted” security infrastructure for digital assets, delivered as a “fully” scalable, “enterprise grade” and compliant cloud service. Curv’s Multiparty Computing (MPC) technology provides institutions with protection, “instant” availability, and “complete autonomy” over 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 of digital assets backed by Munich Re, the internet-based 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 worldwide. Founded in 2018, Curv is based in New York with R&D offices 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 teamed up with ConsenSys to bring a DeFi solution specifically for institutions to the market.

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

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