Crypto APIs, a Bulgarian crypto software company, today launched a new Wallet as a Service (WaaS). The service uses advanced multi-party compute (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 of individuals, businesses and institutions.
Sepior’s advanced encryption provides Crypto API customers with enterprise-grade security for signing digital transactions by distributing key shares and their control among multiple parties. This model eliminates private keys and the risks inherent in their management by ensuring that key shares never become public, or even leave the domain of their holder.
“DeFi service providers, exchanges, institutions and custodians all seek better, more automated MPC wallet services that they can trust. Crypto APIs’ expertise in blockchain and digital asset services, combined with Sepior’s advanced and cutting-edge MPC key protection and management technology, provides the automation, performance and security desired by customers. institutions and service providers.
– Ahmet Tuncay, CEO of Sepior
Crypto API users can choose from three types of digital wallets, including the option of on-premises key management (customer-hosted MPC nodes) and a custom signing scheme. All digital wallets have a backup encrypted by the customer’s RSA key. The Bulgarian startup is also providing an open source tool that allows users to recover their wallet in an emergency.
“Our Sepior partners are world-renowned cryptographers and pioneers in the implementation of multi-party calculations. Using Sepior’s advanced highly secure MPC software, combined with hardware isolation, governance layer, anti-spoofing and manual approval, we are able to deliver any of the wallets as most reliable, easy-to-use and flexible service on the market.
– Nashwan Khatib, Founder and CEO of Crypto APIs
Additionally, the governance layer, developed by the Crypto APIs, allows users to configure custom rules for different wallets and volumes. Based on these rules, team members can also manually approve or reject outgoing transactions with the Crypto APIs Approver app, available for Android and iOS devices.
