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Where do you store my cryptocurrencies?
Where do you store my cryptocurrencies?
Updated over a week ago

MPC (Multi-Party Computation) and Your Cryptocurrency Deposits

MPC (multi-party computation) is the next generation of private key security, allowing Finblox to store and protect your cryptocurrencies with the utmost security. MPC was first introduced as a way of protecting data that was too sensitive even to trust the cloud with. The technology has since been adapted to securely store and manage cryptocurrencies.

How We Use Fireblocks' MPC-Based Wallet Infrastructure

At Finblox, we use Fireblocks' MPC-based wallet infrastructure to securely store your cryptocurrencies. This system uses a network of shared private keys that are encrypted and split into different pieces, held by different parties.

Once you deposit your cryptocurrency with us, our MPC-based wallet infrastructure takes over. We then have the option of either moving the cryptocurrencies you've deposited to our self-custody cold wallets, or to start the process of lending* them out to various borrowers. *For users who opted in the Earn program

The Advantages of Multi-Party Computation

Multi-party computation allows us to securely store and manage your cryptocurrency without ever having to reveal the private keys themselves. This means that no single point of failure is at risk.

MPC also allows us to quickly transfer cryptocurrencies from one person to another by using zero-knowledge proofs to validate that the funds were transferred to the intended recipient. This prevents theft and fraud, ensuring that your funds won't get stolen.

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