- Algorand and Curv have partnered to create technology for safer DeFi transactions.
- Algorind will adopt Curv MPC for its internal protocol.
- Curv is set to leverage Algorind’s growing demand and network.
Algorand and Curv took to Twitter to announce their partnership. The move is aimed at creating technology that meets the increase in demand for a fast and secure way to trade and hold decentralized financial (DeFi) assets.
On one hand, Algorand is a PoS blockchain committed to providing frictionless financial transactions. Algorand aims to do this by providing faster transactions at lower fees. Thus, this will enable faster crypto adoption.
The blockchain will integrate Curv’s Multi-Party Computation (MPC) solution to enhance its wallet security. Algorand COO Sean Ford called it a “critical partnership” which will continue opening the enormous potential of the growing Algorand ecosystem.
While on the other hand, Curv will leverage Algorind’s wide range of supported stablecoins for its users.
To date, Curv is the only MPC provider that has achieved SoC2 Type II certification as well as an ISO accreditation. Moreover, Curv has raised over $30 million in funds since 2019. The firm has also partnered with insurance provider Munich Re to offer up to $50 million in insurance.
Ford also said,
Algorand and Curv have an aligned vision for advanced technology that is required to modernize financial systems of the future.
This partnership was met by enthusiasm from users like Zero Hash.In fact, Zero Hash CEO Edward Woodford has claimed that the partnership will enable his firm to expand its settlement platform. Thus making this is possibly one of the most significant partnerships of the year.