The collaboration highlights the use of hardware encryption and trusted execution environments by inabit to safeguard digital assets.
Cryptocurrency management solutions inabit partnered with Google Cloud to utilise its Confidential Computing platform to provide stronger security for cryptocurrency and digital asset transactions.
Google Cloud’s Confidential Space enables inabit to create secure environments where cryptocurrency private keys remain encrypted and inaccessible at all times, even while actively in use. This hardware-level encryption helps safeguard transactions against insider threats and external hacking attempts, providing robust data security.
Rene Kolga, Senior Product Manager at Google Cloud, said: “Trusted Execution Environments powered by Confidential Computing are becoming the de facto standard across the Web3 industry. This pioneering technology, made easy by Google Cloud’s Confidential Space enables inabit to
make advanced security simple, scalable, and accessible for enterprises handling sensitive digital assets across the globe.”
inabit’s solution uniquely combines its proprietary Trusted Computing Mechanism (TCM)
with Google Cloud’s Confidential Space, eliminating a single point of failure present in many
traditional custodial solutions by ensuring private keys remain encrypted, even internally to
inabit itself.
Dr. Moti Geva, CTO at inabit, said: “Through this collaboration with Google Cloud, we’re meeting that need by leveraging Confidential Space, allowing us to manage private keys even during transactions securely. Our TCM technology, combined with Google Cloud’s advanced encryption, creates a robust shield against vulnerabilities that have affected other digital wallet solutions.”
The integration has already enabled financial institutions to securely process high-volume cryptocurrency transactions, reducing risks associated with internal breaches or unauthorised external access.
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