Paribu Announces Digital Asset Custody Service for Institutional Clients Worldwide
Istanbul, Turkey, November 22nd, 2024, Chainwire
Türkiyes digital asset custodian Paribu to offer crypto custody services to institutional clients worldwide
Since 2017, Türkiyes leading crypto asset technology company Paribu has served 7 million users. Now, with the launch of Paribu Custody, it offers institutional clients worldwide secure digital asset custody and management aligned with international standards.
Paribu, Türkiye's pioneering technology company in the crypto asset sector, has announced its new service, Paribu Custody, providing digital asset custody and management for institutional clients globally.
With independent wallets and a secure, end-to-end infrastructure, Paribu Custody will serve a wide range of organisationsincluding banks, financial institutions, cryptocurrency exchanges, decentralised finance entities, and blockchain-focused startupsseeking to securely store and self-manage their digital assets.
Unique custody infrastructure
Founded in 2017, Paribu provides fast, easy, and secure cryptocurrency trading services to its 7 million users and operates a registered custody company in Türkiye alongside its crypto asset trading platform. With Paribu Custody, it now offers digital asset custody services to institutional clients worldwide.
Cem Salam, Institutional Sales and Business Development Manager at Paribu, commented, Developed by Paribus skilled engineers and software team, our service sets the standard for digital asset custody security in Türkiye, making Paribu unmatched in the field. Our proprietary ColdShield® technology positions Paribu Custody ahead of global competitors.
Absolute security with multi-layered security architecture
Paribu's ColdShield® technology, integrating MPC (Multi-Party Computation), SGX (Software Guard Extensions), and HSM (Hardware Security Module) technologies, divides customers' private keys into multiple fragments and securely distributes them to separate parties. These distributed key parts are stored in a fully isolated environment, ensuring that no individual or organisation can access the complete private key.
With a multi-layered security architecture, ColdShield® technology prevents private key fragments from being reassembled, even during transfer. This design enables each party to generate partial signatures independently, eliminating single point of failure (SPoF) risks and providing clients with the highest level of asset security.
Cem Salam highlights that Paribu Custody, advancing even global standards, offers the ability to separate wallets into primary and proxy wallets, meeting diverse asset storage needs with options for cold, hot, and warm storage.
All platform processes are automatable via APIs. Additionally, the staking service enables organisations to conduct staking operations for crypto assets seamlessly, without requiring technical integration. Every process can be managed through the Paribu Custody mobile application, providing full control over each stepfrom transaction initiation to final signature approval.
Enables full regulatory compliance and reduces operational risk
Paribu Custody enables organisations to streamline Anti-Money Laundering and Anti-Terrorist Financing compliance controls through a single interface, supporting robust regulatory compliance processes. Comprehensive KYB (Know Your Business) procedures are conducted for all clients, ensuring adherence to legal standards and fostering a secure operational environment.
Banks and financial institutions can diversify their crypto asset offerings by leveraging Paribu Custodys secure digital asset management solutions. Cryptocurrency trading platforms benefit from secure, compliant storage for client funds, while DeFi organisations can enhance asset security and reduce smart contract risks. Blockchain startups, meanwhile, can mitigate operational risks and ensure regulatory compliance through the secure storage of investor assets.
Paribu Custody is designed to securely store digital assets for todays needs. Looking to the future, it is being developed to securely manage tokenised real-world assets (RWA) such as real estate, negotiable instruments, official documents, event tickets, and works of art, providing end-to-end corporate-level security.
Cem Salam concluded: Paribu, the developer of Türkiye's first independent blockchain project and the current setter of security standards in crypto asset custody, will continue to build the world of tomorrow.
More information is available at www.paribu.com/custody.
About Paribu
Founded in 2017, Paribu is Türkiyes pioneering technology company and its leading cryptocurrency exchange platform. Through its 24/7 Customer Experience Business Unit, Paribu delivers fast, easy, and secure cryptocurrency services to over 7 million users. As the developer of Türkiyes first independent blockchain project, Paribu also supports various ecosystem projects through financial and technological investments. Beyond promoting blockchain awareness, Paribu actively contributes to the future by engaging in culture, arts, sports, and education initiatives. Paribu shares reliable industry insights and publishes content on its platform, ParibuLog.
ContactInstitutional Sales and Business Development ManagerCem SaglamParibucem.saglam@paribu.com
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Text source: Crypto Daily™
