• Former a16z technology and security executives Riyaz Faizullabhoy and Nassim Eddequiouaq have created an institutional-focused cryptocurrency custody firm, with the firm’s blessing and seed backing.
• Before joining a16z, they co-created the crypto custody infrastructure for Facebook’s Novi wallet.
• The pair previously consulted with projects in the a16z Crypto portfolio to help scale operations, before venturing further into the crypto space at Anchorage for secure private key management.
Former A16z Executives Start Institutional Cryptocurrency Custody Firm
Riyaz Faizullabhoy and Nassim Eddequiouaq, former senior technology and security executives from venture capital giant Andreessen Horowitz (a16z), have started an institutional-focused cryptocurrency custody firm. They received the firm’s blessing and seed backing for their new venture.
Background of Executives
Before joining a16z, these two had co-created the crypto custody infrastructure for Facebook’s Novi (formerly Calibra) wallet. Additionally, they had worked together on securing application provenance, authentication systems, and designing secure OS used in Docker Desktop at Docker. Further to this experience in blockchain technologies, they consulted with projects in the a16z Crypto portfolio to help scale the operations prior to venturing further into the crypto space at Anchorage for secure private key management.
Institutional Crypto Custody
Institutional crypto custody is a competitive space where various technologies are available to manage cryptographic keys for hedge funds, asset managers, and banks. These technologies provide users with a secure platform for digital asset transactions.
Novi Development Priorities
Throughout Novi’s development process, security has been prioritized by Faizullabhoy and Eddequiouaq who played significant roles in building its crypto custody infrastructure. This was done to make sure that Diem Association’s project meets regulatory requirements when rebranded as Novi from Calibra – which would support Diem along with other cryptocurrencies.
The duo has applied their expertise from previous positions to develop an institutional-grade cryptocurrency custodial service which will provide users with better security than ever before when transacting digital assets