ParibuTurkey’s pioneering technology company in the crypto assets sector, announced its new service, Paribu Custody, which provides custody and management of digital assets for institutional clients around the world.
With independent wallets and secure end-to-end infrastructure, Paribu Custody will serve a wide range of organizations, including banks, financial institutions, cryptocurrency exchanges, decentralized financial entities and blockchain-focused startups, seeking to store and appropriate safely. manage their digital assets.
Single custody infrastructure
Founded in 2017, Paribu provides fast, simple and secure cryptocurrency trading services to its 7 million users and operates a Turkish-registered custodial company alongside its crypto asset trading platform. With Paribu Custody, it now offers digital asset custody services to institutional clients around the world.
Cem Sağlam, Head of Institutional Sales and Business Development at Paribucommented: “Developed by Paribu’s skilled engineers and software team, our service sets the standard for digital asset custody security in Turkey, making Paribu unrivaled in the field. Our exclusive ColdShield® technology positions Paribu Custody ahead of its global competitors.
Absolute security with multi-layer security architecture
Paribu’s ColdShield® technology, integrating Multi-Party Computation (MPC), Software Guard Extensions (SGX) and Hardware Security Module (HSM), divides customers’ private keys into multiple fragments and securely distributes them to parties distinct. These distributed key elements are stored in a fully isolated environment, ensuring that no individual or organization can access the full private key.
With a multi-layered security architecture, ColdShield® technology prevents private key fragments from being reassembled, even during transfer. This design allows each party to generate partial signatures independently, eliminating single point of failure (SPoF) risks and providing customers with the highest level of asset security.
Cem Sağlam highlights that Paribu Custody, advancing even global standards, provides the ability to separate wallets into primary and proxy wallets, thereby meeting various asset storage needs with cold, hot and hot storage options .
All platform processes can be automated via APIs. Additionally, the staking service allows organizations to conduct staking operations for crypto assets seamlessly, without requiring technical integration. Each process can be managed through the Paribu Custody mobile app, providing full control over every step, from transaction initiation to final signature approval.
Enables full regulatory compliance and reduces operational risk
Paribu Custody enables organizations to streamline anti-money laundering and anti-terrorism financing compliance checks through a single interface, supporting robust regulatory compliance processes. Comprehensive KYB (Know Your Business) procedures are conducted for all clients, ensuring compliance with legal standards and promoting a secure operating environment.
Banks and financial institutions can diversify their crypto asset offerings by leveraging Paribu Custody’s secure digital asset management solutions. Cryptocurrency trading platforms benefit from secure and compliant storage for client funds, while DeFi organizations can improve asset security and reduce smart contract risks. Blockchain startups, on the other hand, can mitigate operational risks and ensure regulatory compliance through the secure storage of investors’ assets.
Paribu Custody is designed to securely store digital assets to meet today’s needs. Looking to the future, it is developed to securely manage real-world tokenized assets (RWA) such as real estate, negotiable instruments, official documents, event tickets and artwork, providing providing end-to-end security at the enterprise level.
Cem Sağlam concluded: “Paribu, the developer of Turkey’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.
