Japan's SBI to launch new crypto wallet

posted about 2 months ago
Japanese financial services giant SBI Group has partnered with a blockchain security startup to develop a digital wallet for its recently launched crypto exchange. SBI launched VCTRADE in June to become Japan's first bank-backed, government-licensed cryptocurrency exchange.

Yoshitaka Kitao, representative director, president and CEO of SBI Holdings, said "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." Saying that the "vast majority" of crypto hacks since 2014 were down to poor key security, Sepior claimed that its wallet technology "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."
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