International investment management company Franklin Templeton Investments will track the shares of its investment Fund on the Stellar blockchain using the tools of the Curv startup.
Franklin Templeton said that Curv will help create a system for recording and managing transactions. The startup has already developed several protocols for making payments with partners, and the parties will not have to use private keys, which Curv considers a “weak link”. In addition, the assets will be completely Autonomous, and customers will be able to access them at any time.
According to Curv co-founder and CEO Itay Malinger, Franklin Templeton needs an infrastructure that will make asset storage secure, as well as provide scaling to several hundred thousand addresses. Malinger added that the Curv tools are aimed at solving this problem.
The Curv solution will provide the necessary level of security by interacting with the Stellar network. Franklin Templeton is one of the first companies to tokenize its shares directly on an open blockchain. The company planned to start tracking its Fund’s shares on the Stellar blockchain back in September, but at that time it was not yet ready to invest in cryptocurrencies.
“We hope that blockchain will take our business to a new level, and we need partners who will help win the trust of investors in digital assets,” said Roger Bayston, Executive Vice President of Franklin Templeton, adding that the Curv solution best meets the company’s security and scalability requirements.
Recall that in February, the startup Curv proposed to “get rid” of private keys, considering that such an innovation would attract more institutional investors.