While many exchanges or custodians still operate a multisig cold wallet approach, there are now several key management providers on the market.
Unbound Tech is the first to offer a virtual HSM, called Crypto Asset Security Platform, or CASP, using secure MPC. It distributes private keys and transaction approval, validation and signing, among multiple approvers — including offline participation and bots. The company is backed by investors including Citi and Goldman Sachs (NYSE:). CASP is also the first MPC-based virtual HSM to receive FIPS 140-2 Level 2 accreditation, the benchmark for validating the effectiveness of cryptographic hardware. Unbound Tech provides services to custodians and exchanges, including Liquid, along with several Fortune 500 clients.
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Source: Cryptocurrency - investing.com
