Paribu Introduces Custody Services for Institutional Clients
Paribu, a leading cryptocurrency technology company founded in 2017, has launched Paribu Custody to provide secure digital asset custody services tailored for institutional clients around the globe. With a user base exceeding 7 million, Paribu is set to strengthen its position in the digital asset sector with this innovative service.
Comprehensive Solutions for Various Organizations
With its new custody service, Paribu aims to cater to a wide array of organizations, including banks, cryptocurrency exchanges, decentralized finance (DeFi) entities, and blockchain startups. Paribu Custody offers a robust and secure solution for those seeking to manage their digital assets efficiently and safely.
Advanced Security Features
The core of Paribu Custody's offering revolves around its state-of-the-art security features, which include a multi-layered architecture designed to protect clients' assets. The service implements proprietary ColdShield® technology, which utilizes Multi-Party Computation (MPC) and Hardware Security Module (HSM) systems to enhance security by partitioning private keys. By distributing these keys across isolated environments, Paribu ensures that no single party has access to any complete private key, thereby safeguarding clients' assets.
Growing Demand for Digital Asset Custody
As the crypto market continues to develop, institutional interest in secure custody solutions has surged. Organizations are recognizing the necessity for dependable, compliant, and high-security custodial services. Paribu Custody stands to meet this demand, allowing institutions to diversify their cryptocurrency offerings while ensuring adherence to top-notch security and regulatory standards.
Efficient Compliance and Risk Management
One of the standout features of Paribu Custody is its dedication to compliance. The service simplifies Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) compliance processes through a centralized interface, streamlining the onboarding of clients through comprehensive Know Your Business (KYB) checks. This not only helps institutions meet legal requirements but also fosters a more secure environment for conducting business.
Future-Ready Solutions for Tokenized Assets
Looking ahead, Paribu Custody is also keen on expanding its capabilities beyond traditional digital assets. Plans are in place to accommodate the custody of tokenized real-world assets (RWAs), such as real estate and artworks. By preparing to manage these diverse asset types, Paribu aims to equip institutional clients with the tools needed to embrace the future of digital commerce.
Cem Sa?lam, Institutional Sales and Business Development Manager, stated, “Paribu is not just creating solutions for now but is laying the groundwork for what is yet to come in the digital asset space.”
As part of its commitment to transparency and customer engagement, Paribu continues to share valuable industry insights and information, further positioning itself as a thought leader in the cryptocurrency domain.
About Paribu
Since its inception, Paribu has established itself as Türkiye’s foremost cryptocurrency exchange, known for its user-friendly interface and customer support. The company is dedicated to technological advancement and financial inclusivity, investing in various projects that promote blockchain technology and raise awareness about its potential.
If you wish to get in touch regarding custody services or other inquiries, feel free to reach out to Cem Saglam, Institutional Sales and Business Development Manager, at cem.saglam@paribu.com.
Frequently Asked Questions
What is Paribu Custody?
Paribu Custody is a secure digital asset management service designed for institutional clients, offering reliable storage and compliance solutions.
Who can benefit from Paribu Custody?
Various organizations, including banks, financial institutions, and DeFi projects, can utilize Paribu Custody for managing their digital assets.
What security measures does Paribu Custody employ?
The service utilizes advanced technology like ColdShield®, which combines Multi-Party Computation and secure key management to safeguard client assets.
How does Paribu Custody ensure regulatory compliance?
Paribu Custody conducts comprehensive KYB checks and streamlines compliance processes for AML and ATF through a user-friendly interface.
What are Paribu's future plans regarding tokenized assets?
Paribu Custody is developing features for managing tokenized real-world assets, enhancing its service offerings to meet future demands.
