Paribu Announces Digital Asset Custody Service for Institutional Clients Worldwide

[PRESS RELEASE – Istanbul, Turkey, November 22nd, 2024]

Türkiye’s digital asset custodian Paribu to supply crypto custody companies to institutional purchasers worldwide

Since 2017, Türkiye’s main crypto asset expertise firm Paribu has served 7 million customers. Now, with the launch of Paribu Custody, it gives institutional purchasers worldwide safe digital asset custody and administration aligned with worldwide requirements.

Paribu, Türkiye’s pioneering expertise firm within the crypto asset sector, has introduced its new service, Paribu Custody, offering digital asset custody and administration for institutional purchasers globally.

With unbiased wallets and a safe, end-to-end infrastructure, Paribu Custody will serve a variety of organisations—together with banks, monetary establishments, cryptocurrency exchanges, decentralised finance entities, and blockchain-focused startups—looking for to securely retailer and self-manage their digital property.

Distinctive custody infrastructure

Based in 2017, Paribu gives quick, simple, and safe cryptocurrency buying and selling companies to its 7 million customers and operates a registered custody firm in Türkiye alongside its crypto asset buying and selling platform. With Paribu Custody, it now gives digital asset custody companies to institutional purchasers worldwide.

Cem Sağlam, Institutional Sales and Business Development Manager at Paribu, commented, “Developed by Paribu’s expert engineers and software program group, our service units the usual for digital asset custody safety in Türkiye, making Paribu unmatched within the area. Our proprietary ColdShield® expertise positions Paribu Custody forward of worldwide opponents.”

Absolute safety with multi-layered safety structure

Paribu’s ColdShield® expertise, integrating MPC (Multi-Occasion Computation), SGX (Software program Guard Extensions), and HSM ({Hardware} Safety Module) applied sciences, divides clients’ non-public keys into a number of fragments and securely distributes them to separate events. These distributed key components are saved in a totally remoted setting, making certain that no particular person or organisation can entry the whole non-public key.

With a multi-layered safety structure, ColdShield® expertise prevents non-public key fragments from being reassembled, even throughout switch. This design permits every occasion to generate partial signatures independently, eliminating single level of failure (SPoF) dangers and offering purchasers with the very best degree of asset safety.

Cem Sağlam highlights that Paribu Custody, advancing even international requirements, gives the flexibility to separate wallets into major and proxy wallets, assembly various asset storage wants with choices for chilly, sizzling, and heat storage.

All platform processes are automatable through APIs. Moreover, the staking service permits organisations to conduct staking operations for crypto property seamlessly, with out requiring technical integration. Each course of will be managed by means of the Paribu Custody cell software, offering full management over every step—from transaction initiation to last signature approval.

Allows full regulatory compliance and reduces operational danger

Paribu Custody permits organisations to streamline Anti-Cash Laundering and Anti-Terrorist Financing compliance controls by means of a single interface, supporting strong regulatory compliance processes. Complete KYB (Know Your Enterprise) procedures are performed for all purchasers, making certain adherence to authorized requirements and fostering a safe operational setting.

Banks and monetary establishments can diversify their crypto asset choices by leveraging Paribu Custody’s safe digital asset administration options. Cryptocurrency buying and selling platforms profit from safe, compliant storage for consumer funds, whereas DeFi organisations can improve asset safety and scale back sensible contract dangers. Blockchain startups, in the meantime, can mitigate operational dangers and guarantee regulatory compliance by means of the safe storage of investor property.

Paribu Custody is designed to securely retailer digital property for at present’s wants. Seeking to the long run, it’s being developed to securely handle tokenised real-world property (RWA) resembling actual property, negotiable devices, official paperwork, occasion tickets, and artworks, offering end-to-end corporate-level safety.

Cem Sağlam concluded: “Paribu, the developer of Türkiye’s first unbiased blockchain mission and the present setter of safety requirements in crypto asset custody, will proceed to construct the world of tomorrow.”

Extra info is accessible at www.paribu.com/custody.

About Paribu

Based in 2017, Paribu is Türkiye’s pioneering expertise firm and its main cryptocurrency change platform. By means of its 24/7 Buyer Expertise Enterprise Unit, Paribu delivers quick, simple, and safe cryptocurrency companies to over 7 million customers. Because the developer of Türkiye’s first unbiased blockchain mission, Paribu additionally helps varied ecosystem initiatives by means of monetary and technological investments. Past selling blockchain consciousness, Paribu actively contributes to the long run by partaking in tradition, arts, sports activities, and training initiatives. Paribu shares dependable trade insights and publishes content material on its platform, ParibuLog.