Sat. Feb 4th, 2023

In the Web 3.0 market, SafeHeron, a self-custody solution developer targeting small and medium-sized companies, has attracted $7 million in Series A investment, Double Rock reported on the 19th (local time).

The investment was led by Yoonki Partners, Hybrid Venture, and Web3 Vision, a hedge fund, while M77 Ventures, Prime Block Ventures, and Water Drip Capital also participated.

Founded in Singapore in 2019, SafeHeron provides solutions to help Crypto native small and medium-sized enterprises easily introduce institutional-level self-custody security.

Self-customization enables users to have complete control over assets. It is managed through a cryptocurrency wallet that stores the cryptocurrency address on the blockchain.

SafeHeron explained that it utilizes multi-party computing (MPC) and trusted execution environment (TEE) for enhanced study security.

According to Double Rock, MPC can have multiple devices verify a transaction. This could potentially eliminate a single point of failure. TEE is focused on implementing safe areas within the processor to execute transaction-related code.

Along with the investment, SafeHeron also announced cooperation with Metamask. Metamask will provide multi-factor authentication (MFA) using SafeHeron MPC technology.

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