Israeli startup, Curv, which provides security infrastructure for digital assets, has partnered with UAE-based cryptocurrency platform and custodian, HAYVN. It is the first commercial agreement between crypto-related firms in the two countries since they agreed to normalise diplomatic ties under a US-brokered accord.
Curv is headquartered in New York, but its research and development offices are located in Tel-Aviv. The two-year-old startup will leverage the collaboration to promote its multi-party computation (MPC) security technology in the Emirates and beyond.
Curv products are already used by both traditional investment companies that seek to expand into the digital asset space, as well as crypto-native institutions, such as eToro and Genesis. Customers across the globe leverage Curv’s infrastructure to transfer, store and manage digital assets on any blockchain.
“Curv offers a reliable hot and cold wallet deployment, and keyless security infrastructure backed by a world-class team of cryptographers and cybersecurity experts. We conducted an extensive global search within our industry looking for a partner like Curv. Security is the essence of HAYVN. Our clients are trusting us to hold and keep their financial assets safe. The security of the HAYVN ecosystem must therefore be second to none,” said Christopher Flinos, Co-Founder at HAYVN.
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This should benefit HAYVN which offers clients a compliant platform to buy, sell and offer custody services for digital currencies. The firm is one of a few crypto applicants that have secured in-principle approval from the Abu Dhabi’s financial regulator to operate as a crypto asset OTC and custodian. HAYVN’s products mainly cater to family offices, hedge funds, asset managers and UHNWIs
“HAYVN is a respected, valuable partner that we are excited to work with. We are also proud to be the first Israeli technology firm to ink a partnership with a digital asset firm in the UAE and believe that this is the first of many such announcements to come,” added Itay Malinger, Co-founder and CEO at Curv.
Israel and two Gulf Arab nations, the UAE alongside Bahrain, have signed a normalisation deal at a White House ceremony, earlier this month. Shortly after, officials on both sides talked up the economic opportunities that the deal would bring.
Several business cooperation agreements have already been signed, including the accords between Israel’s two largest banks, Bank Leumi and Hapoalim, and UAE banking giants, First Abu Dhabi Bank (FAB) and Emirates NBD.