Crypto API launches new wallet as a service (WaaS) with Sepior MPC technology »CryptoNinjas
Encryption API, one Bulgarian Encryption Software Company, Today launched a new wallet as a service (Software as a service).The service utilizes advanced multi-party computing (MPC) encryption key management provided by the Danish security software company Sepior Threshold cryptography.
MPC Wallet contains the highest encryption security standards and is the preferred solution for individuals, businesses and institutions to conduct encrypted transactions.
Sepior’s advanced encryption provides crypto API customers with enterprise-level security to sign digital transactions by distributing key sharing and control among multiple parties. This model eliminates the inherent risks of private keys and their management by ensuring that key sharing will never be made public or even leave the domain of its holder.
“DeFi service providers, exchanges, institutions, and custodians are all seeking higher-performance and more automated MPC wallet services that they can trust. Crypto API’s expertise in blockchain and digital asset services, combined with Sepior’s industry leadership Advanced MPC key management and protection technology can provide the automation, performance and security required by institutions and service providers.”
– Ahmet Tuncay, CEO of Sepior
Crypto API users can choose between three types of digital wallets, including local key management options (customer-managed MPC nodes) and custom signature schemes. All digital wallets have a backup encrypted by the customer’s RSA key. The Bulgarian startup also provides an open source tool that allows users to restore their wallets in an emergency.
“Our partners from Sepior are world-renowned cryptographers and pioneers of multi-party computing implementation. By using Sepior’s highly secure advanced MPC software, combined with hardware isolation, governance, anti-spoofing and manual approval, we are able to provide the best One of the reliable, easy-to-use and flexible wallets as a service.”
– Nashwan Khatib, founder and CEO of Crypto API
In addition, the governance layer developed by Crypto API enables users to set custom rules for different wallets and quantities. According to these rules, team members can also manually approve or reject outgoing transactions using the Crypto APIs Approver app, which is available for Android and iOS devices.