MPCH Labs, a multi-party computation technology studio, has completed a $40 million Series A funding round, led by Liberty City Ventures

2022-09-28 00:23:55

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According to Chain Catcher news and reported by The Block, multi-party computation technology studio MPCH Labs announced the completion of a $40 million Series A funding round, led by Liberty City Ventures, with participation from QCP Capital, LedgerPrime, Animoca, Human Capital, and Oak HC FT.

It is reported that most of the funds from this round will be used for MPCH's first product called Fraction, which is set to launch later this year. Fraction utilizes the MPC6 engine to create a toolkit for institutions to manage digital assets, wallets, and workflows independently based on versions. Multi-party computation (MPC) allows multiple parties to jointly compute without revealing their private data. This technology is often used in self-custody solutions, where multiple devices can verify transactions, thereby eliminating the possibility of a single point of failure. (Source link)

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