Biometric IT security company HYPR has entered into a partnership with a cryptocurrency security platform BitGo. The joint project is aimed at protecting blockchain-based assets by biometric authentication.

BiGo, a multi-signature bitcoin wallet and a security-as-a-service platform, offers its customers a blockchain vault for bitcoin transactions. The company’s alleged monthly turnover is up to $1 bln. BitGo defines itself as “the leader in blockchain security” and, as it has announced recently, will strengthen the security of its digital assets by decentralised client identification with an HYPR biometric login. HYPR offers “to enable secure password-less authentication across mobile, desktop and IoT systems.”

CEOs of both companies claim that the partnership was established following the customers’ demand.

“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,” commented George Avetisov, CEO of HYPR Corp.

As a part of the joint venture, HYPR will provide tokenised biometric authentication in conformity with the Fast Identity Online (FIDO) Alliance standards. The partnership also implies that BitGo’s multi-signature option will be accessible for HYPR customers.

According to Mile Belshe, CEO of BitGo, “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.”

In February 2016, BitGo integrated ShapeShift, a cryptocurrency exchange service, to provide bitcoin wallet holders with instant access to dozens digital currencies besides bitcoin without leaving the wallet.

Anna Lavinskaya