Crypto APIs, a Bulgarian crypto software company, today has launched a new Wallet as a Service (WaaS). The service utilizes advanced Multi-Party Computation (MPC) cryptographic key management provided by Sepior, a Danish security software company specializing in threshold cryptography.
MPC wallets contain the highest cryptographic security standards and are a preferred solution for crypto transactions by individuals, businesses, and institutions.
Sepior’s advanced encryption provides Crypto APIs’ clients with enterprise-grade security for signing digital transactions by distributing the key shares and their control among several parties. This model eliminates private keys and the inherent risks of their management by ensuring that key shares never become public, or even leave their holder’s domain.
“DeFi service providers, exchanges, institutions, and custodians are all seeking higher performing, more automated MPC wallet services, which they can trust. Crypto APIs’ expertise in blockchain and digital asset services, combined with Sepior’s industry-leading, advanced MPC key management, and protection technology provides the automation, performance, and security that institutions and service providers desire.”
– Ahmet Tuncay, CEO of Sepior
Users of Crypto APIs can choose between three types of digital wallets, including the option for on-premises key management (MPC-nodes hosted by customers) and a custom signing scheme. All digital wallets have a backup encrypted by customer RSA key. The Bulgarian startup also provides an open-source tool that allows users to recover their wallets in case of an emergency.
“Our partners from Sepior are world-renowned cryptographers and pioneers in multiparty computation implementation. By utilizing Sepior’s highly secure advanced MPC software, combined with hardware isolation, governance layer, anti-spoofing and manual approval, we are able to provide one of the most reliable, easy to use and flexible Wallet as a Service on the market.”
– Nashwan Khatib, Founder and CEO of Crypto APIs
Moreover, the governance layer, developed by Crypto APIs, enables users to set up custom rules for different wallets and volumes. Based on these rules, team members can also approve or reject outgoing transactions manually with the Crypto APIs Approver app, available for both Android and iOS devices.