Cybersecurity expert Intercede announced that app development toolkit provider Rivetz has signed up to its MyTAM service to protect customers’ Bitcoin wallets, e-commerce apps and messaging services on the Android platform.
By loading an app into the secure Trusted Execution Environment (TEE) already present on many leading devices, the app, along with data and transactions made by it, is protected against threats that may be present on the handset.
The Trustonic TEE is a cryptographically locked, secure operating environment built into many leading Android devices at the point of manufacture. It protects applications and their associated content from malware, man-in-the-browser and other forms of software-based threats that are potentially active on devices.
By adopting Intercede’s MyTAM service, Rivetz’s development toolkit provides app developers with a simple-to-integrate tool for the storage, use and protection of private keys in the TEE. Rivetz customers are already using these tools to secure Bitcoin e-commerce platforms, benefitting from a model where security is built in. The Rivetz toolkit provides protection of the private keys and full use of the Trusted User Interface for the wallet apps. This end-to-end protection of transactions offers users the assurance that mobile transactions with cryptocurrency are secured.
The security of mobile banking and financial services is of great concern to the public, with an Intercede survey of 2,000 UK consumers in 2014 finding that 53 percent would never use mobile banking services due to a perceived lack of security.
Intercede CEO Richard Parris said, “Intercede is leading the way in enabling developers to protect their apps, and transactions made by them, on the Android platform. By using MyTAM to secure Bitcoin wallets in the TEE, Rivetz offers peace of mind to customers who are concerned about cyber- criminals stealing their Bitcoin assets.
“As this deployment illustrates, the MyTAM service is enabling Intercede to expand into new sectors, such as payments, that offer potentially significant growth opportunities," he added.
Steven Sprague, CEO of Rivetz said, “By teaming up with Intercede and Trustonic to take full advantage of the TEE, we are offering our customers the opportunity to leverage the most advanced cybersecurity tools available to protect their services and offer end users a simple to use and very safe environment for e-commerce, messaging and storage.”
Intercede’s MyTAM service enables organisations – such as app developers, service providers, banks and media streaming companies – to load apps into the TEE, and runs on Intercede’s established market-leading security platform, which is already used by some of the world’s largest enterprises and public sector organisations. It provides a scalable and cost-effective solution for any size of deployment, from enterprise apps with thousands of users to consumer apps with millions.