Crypto Startup Curv receives new funding from global asset manager

Curv has been backed in an extended Series A funding round by asset manager Franklin Templeton and VC firm Illuminate Financial Management.

By · Oct 27, 2020 . 6min read

Curv receives new funding latest news

Israel’s crypto-security startup, Curv, which offers security infrastructure for digital assets, has secured funding from two investors. It includes $1.4 trillion from asset manager Franklin Templeton and financial technology venture capital investor Illuminate Financial Management. Franklin Templeton Investments is a New York-listed global investment firm founded in 1947.

Series A funding round reaches $30M

The new investment spreads Curv’s Series A funding round to $30 million. Moreover, it comes approximately three months after it lately brought in $23 million. The initial round drew investment from industry players like Digital Currency Group, CommerzVentures, Coinbase Ventures, Team8, and Digital Garage Lab Fund. Curv indicates that it intends to utilize the new funds to seek various objectives. Moreover, it includes hiring new staff, international growth, fueling expansion, and developing new products.

Curv’s MPC technology involves cold and hot wallets.

Curv headquarters in New York. However, its research and development offices are in Tel-Aviv. Moreover, the company promotes its multi-party computation (MPC) security technology. It involves hot and cold wallet deployment and keyless security infrastructure supported by a team of cryptographers and cybersecurity experts.

Curv products are utilized by both conventional investment companies that attempt to develop into the digital asset space, as well as crypto-native institutions. Moreover, it includes eToro and Genesis. Additionally, consumers across the globe use Curv’s infrastructure to transfer, store and manage digital assets on any blockchain. Various financial service companies use Curv’s infrastructure. In November 2019, the firm announced that it would apply Curv’s tech to ensure the funds of a new money market account that would be listed on the Stellar blockchain.

However, lately, the US Office of Comptroller of the Currency (OCC) explained that the nationally chartered banks could custody crypto. This declaration, along with increasing recognition by global regulators, have helped to kindle enthusiasm in Curv’s solution. With regulators presently developing a more transparent path for financial crypto services, traditional financial institutions are willing to operate with it, to invent and launch their cutting-edge crypto financial products and services. 

Conclusively, Curv’s full-stack solution gives traditional professionals the expertise required to compete against crypto incumbents.

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