Liberty City Ventures leads a $40 million Series A round of funding for MPCH Labs. MPCH Labs a technology startup that provides cryptocurrency platform with security, technological support, and financial advice. According to a news statement, the money comes as MPCH prepares to launch its first product, Fraction, a customized operating platform that enables multiple users to handle digital assets, wallets, and processes securely.
According to a news statement, the money comes as MPCH prepares to launch its first product, Fraction, a customized operating platform that allows multiple users to securely manage digital assets, wallets, and processes.
MPCH Labs, located in New York, is creating products based on Multi-Party Computation (MPC) technology, a cryptographic security mechanism in which private keys are separated and maintained in separate locations. MPCH built its own MPC6 engine using MPC technology, which allows many parties to sign, authorize, approve, and see activities within the same wallet. The MPC6-powered Fraction will debut in the fourth quarter of this year.
Fraction, which is based on the MPC6 engine, will be released in the fourth quarter of this year.
“Fraction was never about building a better MPC wallet. Fraction was about driving crypto to succeed and enabling wider-adoption outside of the crypto-native world. By providing resilient, secure, and extensible infrastructure around multipermissioned MPC wallets, we believe that we can play a part in unleashing the full potential of crypto.” Cat Le-Huy, co-founder of MPCH, stated in a news statement.
Concerns have sparked a heated debate over whether hardware security, MPC, or a mix of the two provide the best answer for TradFi gamers.
QCP Capital, Mantis VC, Human Capital, Global Coin Research, LedgerPrime, Finality Capital, Oak HC FT, Polygon Studios, Quantstamp, and Animoca were among the other investors in the round.
