Blog home
INDUSTRY
JUN 09, 2021
Gemini Enhances Speed and Scale of Asset Listings, Transfers, and Usage With Shard X Acquisition
Today we are excited to announce the acquisition of Shard X, a leading developer of secure multi-party computation (MPC) cryptographic technology.
Gemini will integrate Shard X’s MPC technology into our distributed, multi-site key management and signing infrastructure, markedly increasing the speed with which we can transfer customer assets and provide support for new asset listings and usage on the Gemini platform.
Gemini has more than $30 billion of crypto assets under custody, serving a range of individual and institutional customers. The addition of Shard X’s MPC will work in concert with all other aspects of Gemini’s custody offering, which includes role-based governance protocols, multiple layers of biometric access controls, and physical security to safeguard the sensitive key material, safely stored in government-rated hardware security modules (HSMs), that controls customers’ assets.
Shard X, which will become a part of Gemini’s UK affiliate, was founded in 2018 by Yaniv Neu-Ner, Nikita Lesnikov, and Navaho De Wet with the goal of making the crypto ecosystem more secure. Shard X’s MPC technology generates key fragments which are used in a distributed signing protocol without ever reconstructing a full private key. The team has developed a portable MPC implementation that aims to run in high security environments, such as hardware security modules, ensuring the highest integrity and secure processing of private key fragments that protect digital assets.
The acquisition of Shard X is yet another step forward in providing our customers with the products and services they demand as we remain laser focused on our mission of empowering the individual through crypto.
Onward and Upward,
Tyler Winklevoss
Chief Executive Officer
RELATED ARTICLES
COMPANY
DEC 11, 2024
A Message From Gemini’s Chief Legal Officer
DERIVATIVES
DEC 10, 2024
Introducing Three New Perpetual Contracts on Gemini’s Derivatives Platform: SHIB/GUSD, UNI/GUSD, BCH/GUSD
WEEKLY MARKET UPDATE
DEC 05, 2024