Japan's SBI Group Develops Digital Wallet for Government-Licensed Crypto Exchange

Critical requirements for institutional-grade cryptocurrency exchanges include the ability to provide custodial wallet services with the highest level of security for signing transactions, storing private key components, and minimizing the risk of assets being frozen or moved without the approval of the end-user or custodians. Sepior’s patented Threshold Wallet technology, which enables rapid signing of transactions involving multiple parties is instrumental in helping SBI Virtual Currencies satisfy these requirements. Also critical is the nature of Sepior’s key protection approach, which eliminates the need for any device or entity to possess the entire private key at any time, making it effectively impossible for an attack to result in key theft.

“After extensive investigation, our security research team determined threshold signatures based on multiparty computation (MPC) offered our desired level of security, performance, and scalability needed to manage transactions for our growing SBI Virtual Currencies customer base”, said Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings. “Sepior is recognized as a market leader in cryptography and threshold MPC. They’ve applied these core competencies to facilitate secure on-line transactions without the classic reliance on a single trusted party.” 

“We are absolutely thrilled to be working with the SBI Group”, said Ahmet Tuncay, chief executive officer of Sepior. “SBI Virtual Currencies operates the first bank-backed, government-licensed cryptocurrency exchange in the most active cryptocurrency trade region in the world. SBI Virtual Currencies will set new industry benchmarks for security, performance, scale, and privacy for cryptocurrency exchanges with its institutional-grade custodial services. Sepior is proud to be SBI’s trusted development partner and technology provider in this endeavor.”