Japanese SBI group is developing a new wallet for crypto currency exchange

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Japanese giant SBI Group in partnership with blockchain startup Sepior developing a digital wallet for the recently launched exchange VCTRADE.

Danish startup Sepior announced today in a press release that SBI has licensed their technology Threshold signature to enhance the security of crypto to integrate it in exchange VCTRADE, which the company launched with the support of banks and government VCTRADE in June.

As reported in a press release, developed by Sepior technology is based on a cryptographic Protocol confidential evaluation, which allows us to provide a high level of security of cryptocurrency wallet.

The President and CEO of SBI Holdings Yoshitaka, Kitao said in a press release:

“After careful research, our research group’s security has determined that the technology threshold signatures based on multi-user computation (MPC) offers the desired level of safety, efficiency, and scalability required to manage transactions growing customer base SBI Virtual Currencies”

Recall that the first Japanese giant SBI has announced the intention to create the first cryptocurrency exchange, with the support of a large financial institution in 2016-th year. In September 2017, the year the company passed the registration of the activity in the FSA, however, in February postponed work on the launch, after a hacker attack on the stock exchange SopCast and rupture of contractual relations with the Chinese exchange Huobi, revealing plans for the opening of the exchange only at the beginning of may. In March the holding has also purchased 40% shares Taiwan manufacturer of hardware cryptocell CoolBitX.

Hardening kryptomere becoming more and more important: hacking cryptocurrency exchanges and wallets during the first 9 months of 2018, the year has brought hackers to 927 billion dollars, accounting for 250% of the same indicators for 2017 year, according CipherTrace.

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