Partisia Blockchain launches timely digital asset custody product at Davos

Davos, 17 January 2024— Partisia Blockchain, the Swiss organization delivering privacy-preserving, interoperable and sustainable innovation for fairness and transparency, during the World Economic Forum launched a new innovative on-chain custody product powered by multiparty computation (MPC). The MPC On-Chain Custody Advanced solution (MOCCA) democratizes access to advanced custody solutions typically available only to enterprise users and companies with large budgets. The new product unveiling comes just days after the United States’ Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs.

On stage during his keynote address at one of the side events, which is being held alongside Davos, Partisia Blockchain co-founder Brian Gallagher introduced the custody product powered by Partisia Blockchain and its advanced multiparty computation (MPC) capabilities. MPC enables decentralization by requiring approval from two or more parties for each transaction.

Gallagher highlighted that unlike current custody offerings from existing providers, the new solution is decentralized, open source and available for all. With a just few clicks, users can deploy a customized secure custody environment amongst multiple parties. Partisia Blockchain’s fully programmable custody product has multichain capability out of the box, and is blockchain agnostic, relying on MPC technology independent of protocol support. All of this makes transactions unbreakably secure and significantly simplifies custody of any type of assets.

The solution is suitable for a range of use cases. From a few friends who want enhanced security for self-custody of their digital assets, to more advanced cases such as firms needing to decentralize custody, decentralized autonomous organizations (DAOs) seeking programmable treasury solutions, exchanges needing improved transparency in fund management, and more.

Additionally, Gallagher also highlighted the solution’s cost efficiency, expedited on-chain deployment timelines, and programable code capability which facilitates advanced smart contract governance. Security is also central to the product, protected by our MPC secured bridge to provide security for assets at rest and during transfers. MOCCA solution boasts off-chain signing where off-chain devices can generate keys and participate in on-chain protocols via clients. All of which make the solution ideal for institutional clients in search of decentralized custody solutions.

Brian Gallagher, co-founder Partisia Blockchain, “This new solution future-proofs cross-chain custody management and we couldn’t have announced it at a better time or place. The SEC just approved spot Bitcoin ETFs and spot Ethereum ETFs are soon to follow. The industry is becoming more regulated necessitating institutional-grade, blockchain-agnostic custody solutions. Our product is fully programmable and does not sacrifice this flexibility for security, and firms can either bridge assets on Partisia Blockchain or keep them on their preferred chain. This is the perfect solution to launch at Davos because it centers privacy-preserving financial inclusion, something a wide array of traditional and decentralized organizations can take advantage of.”