A new partnership announced today between HYPR Corp. and BitGo, Inc. extends biometric authentication to the blockchain space to secure digital assets, cryptocurrency, identities and private keys.
This alliance of key players brings together biometric security with the blockchain, a continuously growing public ledger of all Bitcoin transactions that have ever been executed. BitGo secures over $1 billion per month in digital assets with over 10,000 transactions on any given day - a staggering figure for any startup. HYPR enables enterprises to keep encrypted biometric data decentralized, offline and out of hackers' reach. The introduction of HYPR's decentralized biometric security platform to the digital asset space alongside BitGo enables an unprecedented push towards enhanced usability and security across blockchain-centric use cases.
The BitGo-HYPR partnership will enhance customer experience and security needs on both sides of the fence for use cases such as: decentralized identity, streamlined UX through HYPR-Secure biometric login, and the integration of BitGo's multi-signature platform for HYPR customers.
This partnership will help enable financial institutions adopting blockchain and biometric security technologies to reduce friction for their customers by providing one integrated solution rather than a disjointed combination of solutions. With this partnership comes the adoption of Fast Identity Online (FIDO) security standards, signifying a major push by a digital currency giant towards the FIDO protocol.
George Avetisov, CEO, HYPR Corp. said: "It's astounding how often our enterprise clients request a solution for blockchain security upon integration of our technology. BitGo and HYPR share a common view of the importance of decentralized security protocols. I cannot imagine a better team to partner with."
Mike Belshe, CEO, BitGo, said: "All of our customers are asking how to use biometric security to protect their digital assets. The HYPR team has been laser focused on this and provides a great solution for us."