Curv Partners with ConsenSys to Launch Enterprise-Grade DeFi Solution for Institutions

Partnership combines market leaders in digital asset security and decentralized application (DApp) interoperability

New York, New York


NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Curv, the leader in digital asset security, today announced Curv DeFi, their enterprise-grade decentralized finance (DeFi) solution for institutions. Curv DeFi builds on Curv’s successful integration with the Compound protocol earlier this year and this new partnership with ConsenSys. Through this endeavor, Curv will leverage MetaMask’s market leading DApp interoperability and user interface (UI) to provide clients with a unique offering that combines ease-of-use with the enterprise-controls and enforcement mechanisms institutions require to build out their DeFi strategies. MetaMask is a wholly owned subsidiary of ConsenSys.

DeFi generally refers to digital assets and financial smart contracts, protocols and DApps. DeFi aims to create a financial system that is open to everyone and minimizes one’s need to trust and rely on central authorities. At the beginning of 2020 there was approximately U.S. $5 billion in value locked in DeFi smart contracts, predominantly in retail borrowing and lending platforms. Today there is over U.S. $14 billion in these smart contracts and this value is expected to accelerate as financial institutions enter the market.

“MetaMask is the premier non-custodial experience for interacting with DeFi applications. We are excited to partner alongside technology leaders like Curv to build institutional-grade operations and compliance that traders need in order to really start growing their participation in DeFi,” said Patrick Berarducci, Global Fintech Co-Head, ConsenSys.

The greatest impediments to institutional adoption of DeFi have been the inability to seamlessly adopt DApps, support all the various DeFi protocols and provide the required levels of security. Curv DeFi solves for these challenges and enables institutions to:

  • Accelerate their DeFi strategy by avoiding custom integrations for all DApps and DeFi protocols
  • Benefit from the same enterprise-level controls and protections they are accustomed to for their digital asset operations
  • Leverage the institutional onramps needed to conduct secure transfers in support of their DeFi strategy

“We believe by combining our unique multi-party computation (MPC)-based security infrastructure with MetaMask we will be able to play a significant role in the institutional adoption of DeFi”, said Curv Co-Founder and CEO Itay Malinger. “We are excited by the launch of our institutional DeFi solution and look forward to helping MetaMask achieve the same level of success in the institutional market that they have in retail.”

Stani Kulechov, CEO of decentralized money market Aave stated, “Curv's iteration of DeFi will allow institutional customers to interact with all smart contracts, removing both operational inefficiencies and risks. Aave is excited to explore these synergies with Curv to make it easier than ever to onboard institutions to DeFi and bring the space closer to mainstream adoption via Curv’s newest solution."

About Curv (www.curv.co)

Curv is the world's most trusted digital asset security infrastructure that is delivered as a fully scalable, enterprise-grade and compliant cloud service. Curv's multi-party computation (MPC) technology simultaneously provides institutions the protection, instant availability, and total autonomy over digital assets required to thrive in the digital economy. The company is the only cloud-based, MPC wallet provider for institutional digital assets and the first of its kind to achieve both SOC2 Type II Certification and ISO 27001 accreditation. Curv also provides additional peace of mind by insuring up to $50M of digital assets backed by Munich Re, the only Internet-connected crime insurance policy to date and one of the largest policies in the market. Curv is swiftly being adopted by leading exchanges, custodians, OTC desks, brokers, traditional financial institutions and digital asset managers. Founded in 2018, Curv is headquartered in New York with R&D offices in Tel-Aviv, Israel.

About ConsenSys

ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit https://consensys.net/.

Attachments

 
Curv’s newest solution, Curv DeFi, is compatible with any smart contract or function. Curv DeFi affords its clients full compliance auditability with a complete transaction log.

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