Self-custody solution Safeheron raises $7 million and partners with MetaMask to provide multi-factor authentication features.
, a self-custody solution for-to-medium enterprises in the web3 space, announced it has closed a $7 million pre-Series A round.
Self-custody means enabling users to have complete control of their digital assets. This is typically managed through crypto wallets which store the addresses of crypto assets on the blockchain and manage the sending and receiving of assets. MPC enables multiple devices to validate a transaction removing the potential for a single point of failure, while TEE enables a safe area within the processor to execute code related to the transactions.In addition to the new fundraise, software cryptocurrency wallet MetaMask is partnering with Safeheron to use its MPC technology to provide multi-factor authentication, according to the release., which enables developers to expand the capabilities of MetaMask for their decentralized apps.
The funds will be used to continue enhancing the technology and infrastructure as well as expanding Safeheron’s presence internationally, said Bruce Wang, co-founder and CTO of Safeheron, in an interview with The Block.
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