MultiversX Joins the DeRec Alliance: Advancing Self-Custody With Open Standards for Secret Recovery

In a world where losing access to your digital assets can mean losing them forever, the stakes for secure, user-friendly recovery are higher than ever.

We’re proud to announce that MultiversX is officially joining the DeRec Alliance, an open initiative spearheaded by some of the most prominent U.S.-based blockchain ecosystems—including Cardano, Ripple, Algorand, and Hedera—to define and promote a decentralized, open-source, and quantum-resistant recovery standard for digital secrets.

A Shared Mission: Security Without Sacrificing Sovereignty

MultiversX has pioneered solutions that enable true digital ownership and empower users with greater security, without giving up control. Our onchain 2FA solutions including the Guardian feature were built with this principle in mind and have made stealing user funds virtually impossible even when a seed phrase is stolen—or in some cases like the community-run “EGLD Heist” initiative even leaked on purpose.

By joining the DeRec Alliance, we’re extending that philosophy further. The DeRec Protocol enables any secret—whether a wallet private key, or other sensitive credential—to be split into encrypted shares and distributed across a private, user-selected network of trusted helpers removing single points of failure.

Just as importantly, DeRec shares another value core to MultiversX: a belief that critical digital infrastructure should be open, transparent, and community-owned. The DeRec Protocol is an open standard, designed in public, built in code, and free for anyone to implement.

Together, we’re laying the foundation for a future where self-custody isn’t an inherent risk, but goes hand in hand with resilience, recoverability, and peace of mind.

“If we want self-custody to scale, it needs to be both bulletproof and effortless,” said Beniamin Mincu, co-founder of MultiversX. “The DeRec Protocol hits that rare balance—an open standard backed by some of the biggest players in crypto, aligned with our values, and built for the real world. We’re excited to contribute and help shape a safer future for digital ownership.”

A Strong Partner for the Future

• Compliant and forward-looking: DeRec offers a vital building block for mainstream blockchain adoption and is a 501(c)3 in the United States.
• Open Source Ethos: Like MultiversX, DeRec champions open ecosystems and transparent development. The protocol and its SDKs are available under the Apache 2.0 license—royalty-free and open to all.
• User-first design: Recovery solutions only work if people actually use them. DeRec’s architecture is private, simple, and human-centered, helping users secure their secrets without compromising usability.
• Piece-of-mind security layer: DeRec introduces a novel pathway for non-custodial account recovery, ensuring that even if a private key is lost, funds can be saved.

The loss of keys and passwords shouldn’t cause you to lose all your assets” said Dr. Leemon Baird, co-founder of the Hedera public blockchain and President of the DeRec Alliance. “With MultiversX joining the Alliance, we gain a powerful partner that shares our vision: to make Web3 safer, smarter, and more accessible—without compromising on decentralization or the open-source ideals that power it.

What’s Next

As part of the DeRec Alliance, MultiversX will explore ways to integrate DeRec’s recovery mechanisms into the ecosystem and tooling. We will also contribute to the broader development of the protocol and collaborate with other Alliance members to accelerate the adoption of safe, decentralized, and standards-based recovery methods across Web3.

Self-custody requires more than just better wallets—it needs better guarantees. With DeRec, we’re helping shape the infrastructure that will make those guarantees real—and doing it in the open, for the benefit of the entire ecosystem.

About MultiversX

MultiversX, the EGLD network, is a distributed blockchain network for next-gen applications. Decentralized via 3,000+ nodes, scalable through sharding, fast, secure, and green.

About The DeRec Alliance

The DeRec Alliance is a group of forward-thinking companies from across the Web2 and Web3 ecosystems that are committed to making the process of securing and recovering digital assets, accounts, and other secrets as simple as existing Web2 experiences. Leveraging a new open source standard, these organizations are working together to help their users and the broader world realize the promise of Web3, without the complexity.