BNP Paribas Securities Services and Curv complete proof of concept for the secure transfer of digital assets

BNP Paribas Securities Services, in partnership with Curv, a cloud-based digital asset security infrastructure for financial institutions, announces the successful completion of a proof of concept to transfer security tokens securely between market participants.

As part of this engagement, BNP Paribas Securities Services and Curv transferred a security token using Curv’s multi-party computation solution to ensure the security of the private keys. Curv’s solution enables transactions to be signed securely in a mathematically-proven and distributed way. This successful proof of concept helped to demonstrate that tokenised securities can be transferred quickly, safely and transparently on the blockchain.

As a leading global custodian, BNP Paribas Securities Services continually seeks to anticipate its clients’ needs and is carefully preparing for the development of custody solutions for regulated digital assets.

Itay Malinger, Co-founder and CEO of Curv said:

“Global financial players like BNP Paribas have the opportunity to play a vital role in the digital economy. To do so they require a secure and scalable infrastructure to deliver competitive custody products to their customer base. Adopted by leading financial institutions worldwide, Curv’s infrastructure is able to meet these needs and support the acceleration of innovative programmes like the one BNP Paribas is spearheading with its technology and cryptographic expertise. We are excited to have been selected to partner with BNP Paribas on this pivotal engagement.”

Bruno Campenon, Global Head of Financial Intermediaries and Corporates Client Line at BNP Paribas Securities Services, said:

“This proof of concept with Curv represents a significant step forward in our strategy to deliver an integrated custody solution that combines both traditional and regulated digital assets. We are now well positioned to deliver an exciting new service to our clients once regulations on digital assets are in place.”

To carry out this transaction, BNP Paribas Securities Services and Curv used the ERC1400 token standard.

Source: . “ BNP Paribas Securities Services and Curv complete proof of concept for the secure transfer of digital assets ” Fintech Finance, https://www.fintechf.com/01-news/bnp-paribas-securities-services-and-curv-complete-proof-of-concept-for-the-secure-transfer-of-digital-assets/