Digital currency wallet Curv has announced a new partnership with Japanese blockchain developer Crypto Garage for a non-custodial settlement platform. The platform, known as SETTLENET, will rely on Curv to ensure privacy and security. Curv also revealed that it was opening a new office in Hong Kong that will cater to the Asia-Pacific (APAC) region.
Built on top of the Liquid Network, SETTLENET is a non-custodial over-the-counter platform that will facilitate delivery-vs-payment of digital assets, ensuring the transfer of one digital currency only occurs if the transfer of another digital currency occurs as well. The platform seeks to introduce efficiency in the absence of a centralized clearing house.
Crypto Garage chose Curv for its chain agnostic support which ensures it can support any type of asset or protocol. It will specifically rely on Curv’s Blackbox solution which ensures the privacy and security of SETTLENET. Blackbox monitors the signing process and the key management infrastructure, ensuring each transaction is signed in a distributed way. SETTLENET will officially launch in December this year.
Yoshihide Shimada, the CTO of Crypto Garage stated that the company had looked at several other options before settling on Curv’s Blackbox, stating that “it provides signing services with the best security and flexible integration. Together, we enable clients to seamlessly and confidently trade all different types of assets on the Liquid Network with DvP settlement.”
Curv has continued in its quest to make digital currencies easily accessible to institutional investors. The wallet allows its users to insure up to $50 million through its partnership with Munich RE. Even more importantly, Curv applies keyless cryptography which makes Bitcoin easier to use, and eliminates the single point of failure that private keys present.
Curv started supporting Bitcoin SV in February, allowing the building of flexible and secure large-scale applications on top of the BSV blockchain. With its patent-pending multi-party computation protocols, Curv ensures that transactions are approved and verified offline without the need for private keys.
Josh Schwartz, the COO of Curv stated at the time, “We’re excited to add BSV to our growing portfolio. Our clients trust us to enable their business and help secure their digital assets. We view it as our obligation to ensure customers have the freedom to hold, trade, and interact with any and all digital assets.”
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