Innovative Custody Service for Enhanced Security
Paribu, Türkiye’s leading technology company in the cryptocurrency sector, has unveiled a revolutionary service aimed at institutional clients worldwide, Paribu Custody. This new service provides secure and reliable digital asset custody and management, designed to meet the growing demand for enhanced security among organisations dealing with cryptocurrency assets.
Who Can Benefit from Paribu Custody?
Paribu Custody is tailored for a wide range of institutional clients, including banks, financial institutions, cryptocurrency exchanges, decentralised finance (DeFi) platforms, and blockchain startups. These organisations can now securely store and self-manage their digital assets with the peace of mind that comes with a cutting-edge infrastructure and independent wallets designed for maximum protection.
Leading the Way in Digital Asset Security
Founded in 2017, Paribu has grown to become a trusted name in the cryptocurrency sector, offering fast and secure trading services to over 7 million users. With the launch of Paribu Custody, the company now extends its services to institutional clients around the globe, offering robust digital asset custody with an emphasis on security.
Cem Sağlam, Institutional Sales and Business Development Manager at Paribu, explained, “Our team of expert engineers has developed Paribu Custody to set a new benchmark for security in Türkiye, positioning us ahead of global competitors. Our ColdShield® technology is a proprietary solution that guarantees the utmost protection for our clients’ assets.”
Unmatched Security with ColdShield® Technology
At the heart of Paribu Custody is ColdShield® technology, a state-of-the-art security system that integrates Multi-Party Computation (MPC), Software Guard Extensions (SGX), and Hardware Security Module (HSM) technologies. This multi-layered security architecture divides private keys into multiple fragments, storing each piece in an isolated environment. This approach ensures that no single party can access or reconstruct the complete key, significantly reducing risks associated with key theft and fraud.
ColdShield® technology further enhances security by ensuring that key fragments cannot be reassembled during transfer. This unique feature removes the possibility of single-point-of-failure risks, providing institutional clients with unparalleled protection for their digital assets.
Flexible Asset Storage and Seamless Operations
Paribu Custody is designed to meet the diverse needs of its clients. The service offers the ability to separate wallets into primary and proxy wallets, with options for cold, hot, and warm storage, ensuring that organisations can choose the best solution based on their requirements. Additionally, all platform processes are automatable through APIs, enabling seamless and efficient management of digital assets.
Paribu Custody also offers a staking service, allowing organisations to participate in staking operations without the need for technical integration. Clients can manage every aspect of their digital asset storage and transactions through the Paribu Custody mobile app, from initiating transactions to finalising signature approvals.
Ensuring Regulatory Compliance and Mitigating Operational Risks
In addition to providing top-tier security, Paribu Custody helps organisations stay compliant with regulatory standards. The service streamlines Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) controls, allowing institutions to adhere to regulatory requirements through a single interface. Paribu Custody also conducts comprehensive Know Your Business (KYB) procedures to ensure all clients meet legal standards.
Banks, financial institutions, cryptocurrency exchanges, and DeFi platforms can diversify their offerings and enhance asset security with Paribu Custody’s secure, compliant solutions. Blockchain startups can also benefit from reducing operational risks while ensuring regulatory compliance through secure digital asset storage.
Managing Tokenised Real-World Assets
As Paribu Custody evolves, it is also preparing for the future of digital asset management. The service is being developed to handle tokenised real-world assets (RWAs), including real estate, negotiable instruments, official documents, event tickets, and works of art. This expansion will provide organisations with end-to-end corporate-level security for a wide range of digital and tokenised assets.
Paribu’s Commitment to the Future of Crypto Asset Security
Cem Sağlam concluded, “As the pioneer of Türkiye’s first independent blockchain project and a leader in digital asset custody security, Paribu is committed to driving innovation and shaping the future of asset management, ensuring a secure and sustainable future for the industry.”
