MultiversX Joins Hedera In DeRec Alliance To Advance Cross-Chain Asset Recovery

MultiversX has joined the DeRec Alliance, a cross-chain industry group founded by Hedera, Algorand, Ripple, XRPL Labs, IOHK, and others to simplify secure crypto wallet recovery.

The alliance is building the open-source DeRec protocol, which uses encrypted secret-sharing among trusted helpers so users can recover wallets without exposing private keys.

DeRec supports cross-chain interoperability, automated health checks, and resharing if helpers change, while maintaining a decentralized governance structure.

“Self-custody should be bulletproof and effortless,” MultiversX said, noting DeRec aligns with its mission to secure crypto assets while preserving user control.

As the alliance expands, DeRec aims to reduce the fear of losing crypto while enabling safer, mainstream Web3 adoption across multiple chains.

Source: MultiversX