Paribu Launches Global Digital Asset Custody Service for Institutions

Paribu, a leading Turkish cryptocurrency company, has unveiled Paribu Custody, a new digital asset custody and management service aimed at institutional clients worldwide. This move marks a significant expansion of Paribu's offerings beyond its existing cryptocurrency trading platform and registered custody services in Turkey.

The new service targets a diverse range of organizations, including banks, financial institutions, cryptocurrency exchanges, decentralized finance (DeFi) entities, and blockchain startups. Paribu Custody's launch comes at a time when secure digital asset storage and management are increasingly crucial for institutional adoption of cryptocurrencies and blockchain technology.

At the heart of Paribu Custody is the company's proprietary ColdShield® technology, which integrates Multi-Party Computation (MPC), Software Guard Extensions (SGX), and Hardware Security Module (HSM) technologies. This multi-layered security architecture divides and distributes private key fragments, eliminating single points of failure and providing a high level of asset security.

The service offers flexible storage options, including cold, hot, and warm storage, catering to various institutional needs. It also provides API integration for process automation and a mobile application for transaction management, enhancing usability for institutional clients.

Notably, Paribu Custody addresses regulatory concerns by facilitating Anti-Money Laundering and Anti-Terrorist Financing compliance through a unified interface. This feature, along with comprehensive Know Your Business (KYB) procedures, positions the service as a solution for organizations seeking to navigate the complex regulatory landscape of digital assets.

The implications of this launch extend beyond secure storage. Banks and financial institutions can potentially expand their crypto asset offerings, while cryptocurrency exchanges can enhance security for client funds. DeFi organizations and blockchain startups stand to benefit from improved asset security and regulatory compliance.

Looking ahead, Paribu is developing the service to manage tokenized real-world assets, such as real estate and official documents, indicating a vision for broader applications of blockchain technology in traditional asset management.

As institutional interest in digital assets continues to grow, services like Paribu Custody could play a crucial role in bridging the gap between traditional finance and the crypto ecosystem, potentially accelerating the adoption of blockchain technology across various sectors.