Liberty City Ventures led a $40 million Series A round of funding for MPCH Labs. According to a news statement, the money comes as MPCH prepares to launch its first product, Fraction, a customized operating platform that allows multiple users to securely manage digital assets, wallets, and workflows. MPCH Labs, based in New York, is creating products based on Multi-Party Computation (MPC) technology, a cryptographic security mechanism in which private keys are separated and maintained in separate locations. MPCH built its own MPC6 engine using MPC technology, which allows many parties to sign, authorize, approve, and view actions within the same wallet. Fraction, which is based on the MPC6 engine, will be released in the fourth quarter of this year.
