Blockchain
Unbound and KeyFi Form Strategic Partnership to Redefine Crypto Key Management for Non-custodial Pooling of Digital Assets
Unbound Tech, global leader in cryptographic key management and protection, today announced that it has entered into a strategic partnership with crypto-asset security startup KeyFi, Inc. (“KeyFi”) to develop specialized software and services using secure multi-party computation (MPC).
The initial solution released under this partnership enables institutional-grade key management for continuous and automated staking of the QTUM cryptocurrency and will quickly expand to support other crypto assets and value-added services. As part of this relationship, Unbound and KeyFi are also announcing the first of many native DeFi MPC modules for Unbound Tech: non-custodial stake-pooling for groups of distributed, trustless participants through shared vaults.
KeyFi will release the first version of its key management platform in Q2 2020 with a consortium of partners including Celsius Network and Monarch Wallet. KeyFi’s platform, built upon new developments in Unbound’s Crypto Asset Security Platform (CASP) enables users to securely manage their keys, while at the same time offering rails for an array of value-add DeFi services. By combining the low cost of MPC-based self-custody with the value created by seamlessly accessing DeFi services such as staking, lending, and derivative products, KeyFi customers will be able to significantly increase the potential lifetime value of holding a coin while simultaneously reducing their cost and complexity of custody.
“For too long, secure key management has been a problem that has hindered the widespread adoption of digital assets such as cryptocurrencies,” said Professor Yehuda Lindell, CEO and Co-Founder of Unbound Tech. “The traditional means of safeguarding private keys that control these assets have proven to be cumbersome, insufficiently flexible or difficult to implement at scale. Unbound’s CASP, in partnership with KeyFi’s enterprise solutions, will enable users to more easily add digital assets to our MPC-based platform while also utilizing DeFi services such as staking.”
“KeyFi was formed for two reasons,” said Cindy Zimmerman, Co-founder and Lead Security Engineer of KeyFi. “First, to support projects that want professional investor adoption and enterprise support by quickly offering MPC-based wallets and services. Second, to simplify key management processes while adding functionality to support novel value-added DeFi services — such as continuous and automated staking — that coin-holders deploy to maximize the value of holding that coin. By combining MPC-based key management with DeFi services, KeyFi will significantly lower the lifetime cost of custody for many institutional coin-holders.”
“It’s an incredible honor for QTUM to be the first cryptocurrency supported jointly by KeyFi and Unbound Tech,” said Patrick Dai. “This is particularly appealing for the QTUM ecosystem because the Unbound-KeyFi custody solution is a tremendously enabling tool for businesses that will lend new opportunities to QTUM holders. Since the blockchain space has such a well-recorded history of security lapses, we are glad to see companies make key management easier to implement, especially for staking.”
SOURCE Unbound Tech
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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