ChainUp leverages Multi-Party Computation (MPC) to provide highly secure digital asset custody solutions, ensuring customer trust.
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ChainUp leverages Multi-Party Computation (MPC) to provide highly secure digital asset custody solutions, ensuring customer trust.
Global blockchain solutions provider ChainUp Group uses MPC technology as part of its multi-layered security architecture to ensure the safety of customers' digital assets.
Navigating Web3 tides with focused insightsAmid escalating global concerns over digital asset security, ChainUp Group, a leading blockchain solutions provider, today announced the integration of Multi-Party Computation (MPC) technology as part of a multi-layered security architecture to ensure the highest security standards for its digital asset custody solution. The multi-layered security framework developed by ChainUp Custody demonstrates the company’s comprehensive commitment to safeguarding client assets and provides essential assurance to maintain ongoing client trust—particularly critical in light of recent industry developments.
Mr. Zhong Gengfa, Founder and CEO of ChainUp Group, said: "The security of client assets has always been our top priority. As part of our multi-layered security architecture, we combine MPC technology with hardware isolation techniques to distribute encrypted information storage, exponentially enhancing system security and ensuring that only users can access their digital assets."
Additional pillars of the ChainUp Custody security architecture include risk monitoring mechanisms, comprehensive KYT and KYC services, and SOC 2 compliance. SOC 2 defines security standards for managing customer data based on five principles: security, availability, processing integrity, confidentiality, and privacy.
MPC works by splitting traditional private keys into multiple shards distributed across different locations, ensuring no single party can gain full access to the original private key. The implementation of MPC technology ensures that private key shards are jointly managed by multiple parties, giving users complete control over their assets anytime and anywhere.
About ChainUp Group
Founded in 2017, ChainUp is a leading one-stop blockchain technology solutions provider, covering infrastructure development and ecosystem support. ChainUp’s mission is to empower enterprises through blockchain technology, offering innovative and comprehensive compliance solutions including digital asset exchange systems, NFT marketplace systems, wallet solutions, liquidity solutions, and digital asset custody and management. Headquartered in Singapore with offices worldwide, ChainUp has served over 1,000 clients across 30 countries and regions, reaching more than 60 million end users. For more information, visit www.chainup.com.
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