NEW YORK — Curv — which provides a digital wallet for institutions — has raised $23 million in a round backed by CommerzVentures, Coinbase Ventures, and Digital Garage Lab Fund, with previous investors Digital Currency Group and Team8 also participating. The Series A round — which brings Curv’s total funding to $30 million — will be used to grow the company’s team and technology.
Founded in 2018, Curv operates a 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 SOC2 Type II Certification. Curv also provides additional peace of mind by insuring up to $50 million 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 being used by leading exchanges, custodians, OTC desks, brokers, traditional financial institutions and digital asset managers.
“Despite a challenging economic climate, we’re seeing strong growth among traditional financial institutions, who require our enterprise-grade security infrastructure, robust governance engine and seamless integration with blockchain technology,” said Itay Malinger, CEO of Curv. “Unlike other legacy solutions, we simultaneously deliver the protection, instant liquidity and complete control required for all institutions to thrive in the digital asset economy.”
Curv’s keyless MPC technology and flexible tech stack enable the company to swiftly deliver customized digital asset security solutions required by crypto-native and traditional financial institutions to build world-class cryptofinance products. Curv’s highly scalable and adaptable platform can support hot, warm and cold wallet configurations as well as all tokens and protocols regardless of the underlying blockchain or DLT.
“Few areas within fintech are as exciting as digital assets. Tokens and coins are increasingly finding their way into asset managers’ books. Curv is unlocking this market with their industry-leading technology and we are happy and excited to partner with Itay, Dan and their impressive team,” said Stefan Tirtey, Managing Partner at CommerzVentures.