What CipherBC does

CipherBC is a Dubai-headquartered, privately-held provider of enterprise-grade digital asset custody infrastructure built on Multi-Party Computation (MPC) cryptography. Founded around 2019–2020, the company offers a unified custody platform that spans hot, warm, and cold wallet layers — branded as CipherBC Wallet as a Service (WaaS), CipherBC Flexify, and CipherSafe respectively — all managed through a single API with m-of-n configurable threshold signing inside secure enclaves, ensuring the full private key is never reconstructed. The platform additionally exposes governance tooling, including the RAFP (Role-Based Approval Flow Protocol) and Authority Hub, a Decision Tree Based Risk Control Engine, On-chain Attestation, Amber Protocol for automated fund movement, and a Gas Station service. CipherBC reports USD 15B+ in assets under custody, USD 1.17B+ in total transaction volume, 380 institutional clients across 15 countries, and support for 98 protocols and 1,862+ tokens.

CipherBC serves five institutional verticals: banking institutions, trading platforms, crypto protocols, payments and commerce companies, and corporate treasuries. Distribution is primarily enterprise field sales with API-first onboarding for technical teams, supplemented by a White Label / OEM channel for partners seeking to rebrand CipherBC's wallet, cards, and RWA tokenization products. Revenue mechanics combine recurring subscription-style fees for custody infrastructure with usage-based API fees for wallet operations, exchange, reconciliation, and address management, plus licensing-style economics from white-label deployments; pricing is quote-based and not publicly disclosed. The Source-Available MPC Framework, released under a non-commercial license, allows auditors and regulated partners to review the MPC-HSM Key Architecture under NDA, positioning CipherBC as a transparency-led alternative in a market dominated by closed-source custodians. The company is privately held with no disclosed funding rounds or institutional investors in the source material.

Name

CipherBC

Legal name

CipherBC

Website

https://cipherbc.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

CipherBC is a Dubai-based enterprise digital asset custody provider built on MPC cryptography, offering unified hot, warm, and cold wallet infrastructure via a single API. It serves banks, trading platforms, crypto protocols, payment companies, and corporate treasuries across 15 countries, with USD 15B+ AUC and 380 institutional clients.

Ownership category

akta.pro rank

Product category

Digital Asset Custody

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Other Activities Related to Credit Intermediation (522390)

SIC

Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Digital Asset Custody & Key Management (MPC, HSM, Wallet Infra) (FSAGAMAB)

akta.pro secondary industries

Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions) (FSAGAMAH), Transaction Policy Controls & Wallet Security (Allowlisting, Limits, Approvals) (FSADACAI), Smart Contract Wallets / Account Abstraction (MPC/AA, social recovery, paymasters) (FSAPACAB)

Keywords

• Digital asset custody
• MPC wallet infrastructure
• Crypto custody solutions
• Enterprise blockchain wallets
• Cryptocurrency wallet API

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Wallet Infrastructure / Custody Services: CipherBC provides enterprise MPC wallet infrastructure and crypto custody solutions as a service. Revenue is generated through API-based services and infrastructure fees for institutional digital asset custody, including hot/warm/cold wallet management, transaction processing, and risk control services.
2. API Usage Fees: API-native services for wallet creation, deposit/withdrawal management, exchange, and transaction monitoring. Enterprises access the platform via API endpoints using RSA-2048 bit two-way signature verification, with various API modules for address management, balance queries, exchange operations, and reconciliation.
3. Enterprise Licensing / White Label: CipherBC offers white-label crypto wallet and card solutions, suggesting licensing revenue from partners who rebrand and deploy CipherBC's technology under their own brand for institutional clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

CipherBC provides enterprise-grade digital asset custody built on Multi-Party Computation (MPC) wallet infrastructure, unifying hot, warm, and cold wallet management under a single API. The platform serves institutional clients including banks, exchanges, crypto protocols, payment companies, and corporate treasuries with policy-driven governance, multi-chain token support across 98+ protocols, and programmable security controls such as its Role-Based Approval Flow Protocol (RAFP).

Product overview

CipherBC is an enterprise-grade digital asset custody platform providing a comprehensive suite of MPC-based wallet and custody solutions. The platform features a layered architecture with three custody tiers: CipherBC WaaS for hot wallets, CipherBC Flexify for warm wallets, and CipherSafe for cold storage—all unified under a single MPC infrastructure. The system includes RAFP (Role-Based Approval Flow Protocol) for workflow orchestration, a Decision Tree Based Risk Control Engine for security, and supports tokenization of real-world assets. CipherBC's product portfolio serves Banking Institutions, Trading Platforms, Crypto Protocols, Payments & Commerce, and Corporate Treasury clients across 15 countries with 98+ supported protocols.

Differentiator

Problem solved

Functional benefit

Brands

• CipherBC Wallet as a Service (WaaS): Enterprise MPC wallet infrastructure service for managing hot, warm, and cold wallets.
• CipherBC Flexify
• CipherSafe
• RAFP (Role-Based Approval Flow Protocol)
• Amber Protocol
• Gas Station

Products and services

• CipherBC Wallet as a Service (WaaS) API-native MPC wallet infrastructure optimized for high-frequency, automated transaction scenarios, providing unified hot, warm, and cold custody management for institutional clients.
• CipherBC Flexify MPC-based wallet solution providing intermediate custody between hot and cold storage with automated risk controls and unified custody layer visibility for businesses of all sizes.
• CipherSafe Cold wallet solution providing maximum-security offline key management designed for long-term digital asset storage.
• MPC Wallet Infrastructure Enterprise MPC wallet infrastructure built on an m-of-n configurable threshold model with TEE secure enclaves, where the full private key is never reconstructed at any time.
• White Label Crypto Wallet White-label crypto wallet solution allowing enterprises to brand and deploy their own wallet powered by CipherBC's MPC infrastructure for institutional clients.
• CipherBC White Label Cards White-label crypto card solution integrated with the CipherBC custody infrastructure, enabling partners to offer branded card products.
• RWA as A Service Service enabling the tokenization and custody of Real World Assets (RWA) on the CipherBC platform for institutional clients.
• Tokenization & Universal Tokenization Hub Comprehensive tokenization platform supporting creation and management of various tokenized assets across multiple blockchain networks.

Quantifiable outcome

• 18.23M+ wallets created across institutional clients
• +8 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fireblocks: Fireblocks is the dominant enterprise MPC wallet and custody platform serving banks, trading firms, and corporate treasuries. It offers the closest product overlap with CipherBC — MPC-based custody, policy engine, and institutional API distribution — making it the most directly comparable peer.
• Anchorage Digital: Anchorage is a federally chartered digital asset bank providing institutional custody, MPC-based wallet infrastructure, and staking services. It is a direct peer in serving regulated bank and protocol clients with MPC-native custody.
• BitGo: BitGo is one of the largest qualified custodians for digital assets, offering hot, warm, and cold wallet infrastructure with multi-sig and MPC capabilities. It serves the same institutional segments (exchanges, banks, corporate treasuries) and competes directly for enterprise custody mandates.
• Qredo: Qredo offers decentralized MPC custody and settlement infrastructure for institutional digital asset participants. Its MPC-based key management and multi-chain asset support put it in direct competition with CipherBC for trading and treasury use cases.
• Liminal: Liminal is an institutional digital asset custody and wallet infrastructure provider operating across MENA, India, and APAC. Like CipherBC it focuses on hot/warm/cold orchestration with policy controls for institutional clients, making it directly comparable.
• Fordefi: Fordefi is an institutional MPC wallet and DeFi access platform built for trading firms, funds, and corporate treasuries. Its policy engine and institutional DeFi connectivity make it a focused MPC-native competitor to CipherBC.
• Cobo: Cobo provides a full-stack digital asset custody platform with MPC, hardware, and smart contract wallet tiers serving exchanges, protocols, and institutions. Its layered custody model (WaaS, cold storage, DeFi access) closely mirrors CipherBC's WaaS/Flexify/CipherSafe architecture.

Emerging players

• Safe (formerly Gnosis Safe): Safe is the leading smart contract wallet / account abstraction infrastructure for protocols, DAOs, and DeFi teams. While more developer and protocol-oriented than CipherBC's enterprise stack, it overlaps in custody, multisig workflows, and policy-based transaction controls.

Broad incumbents

• Ledger Enterprise: Ledger Enterprise extends the consumer hardware wallet leader into institutional self-custody and custody solutions for corporates and asset managers. It overlaps with CipherBC in bank/treasury digital asset security but operates as part of a much wider consumer hardware franchise.
• Coinbase Prime: Coinbase Prime is the institutional arm of a major regulated exchange, offering custody, prime brokerage, and trading infrastructure. While much broader than CipherBC, its custody offering competes directly for institutional digital asset mandates.

Market position

Strengths4 records

Weaknesses3 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/CipherBC
• GitHubgithub.com/cipherbc1024
• LinkedInlinkedin.com/company/cipherbcofficial

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CipherBC