# SVRN Completes Initiative Securing NEAR's 17-Operator Chain Signatures Network

> SVRN completed an initiative securing NEAR's Chain Signatures MPC network, migrating all 17 operators' key pieces into tamper-resistant hardware.

- Published: 2026-10-15T21:15:52+00:00
- Section: Product Launches
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-15/svrn-near-chain-signatures-mpc-initiative
- Source: [PR Newswire](https://www.prnewswire.com/news-releases/svrn-leads-initiative-strengthening-infrastructure-behind-nears-cross-network-transactions-302910284.html)

## Key takeaways

- SVRN authored the incentive program funding NEAR Chain Signatures' 17 independent operators and ran the diligence qualifying each one.
- Every node in the MPC network now runs inside a trusted execution environment built on Intel TDX, with each core component audited by Trail of Bits.
- NEAR Intents has processed more than $34 billion in cross-network volume, and SVRN's treasury holds more than 55 million NEAR tokens.

SVRN, Inc. completed an initiative to secure the multi-party computation operator network behind [NEAR](https://akta.pro/company-profiles/00003xb/near) Protocol's Chain Signatures, migrating all 17 operators' key pieces into tamper-resistant hardware, the company said on October 15, 2026. The announcement was published by [PR Newswire](https://www.prnewswire.com/news-releases/svrn-leads-initiative-strengthening-infrastructure-behind-nears-cross-network-transactions-302910284.html).

## How SVRN Built the Chain Signatures Operator Program

[SVRN](https://akta.pro/company-profiles/00n5xix/svrn) authored the incentive program that funds the network's 17 independent operators, carried it through NEAR's governance process, ran the diligence that qualified each onboarding operator and joined the network as an operator itself. Chain Signatures lets a single NEAR account hold and move assets on other blockchains without a separate wallet and private key for each one. Each key is split into pieces held by the 17 operators, and at least 11 must cooperate to produce a signature, so no operator ever sees the whole key.

The migration moved each operator's key piece into a trusted execution environment built on Intel TDX that the operator's administrators, its hosting provider and the server's operating system cannot read. The environment produces cryptographic proof of the software running inside it, which anyone can check against the network's published code. Trail of Bits has independently audited each core component of the network, and adding or removing an operator, changing the signing threshold or updating node software requires an onchain vote of the existing operators.

"Every financial system eventually has to answer the same question: who holds the keys, and what prevents the holder from misusing them?" said Sal Ternullo, Chief Executive Officer of SVRN. "NEAR's answer is that no single party holds the keys, and the machines that hold the pieces can prove what they are doing."

## SVRN's NEAR Treasury and Staking Arrangements

According to akta.pro [company records](https://akta.pro/company-data), SVRN became the first institution to go live on Fireblocks Trust Company and Figment's institutional NEAR staking capability under qualified custody in June 2026, enabling protocol-native staking rewards while assets remain under qualified custody. The same records list treasury holdings of 53.9 million NEAR tokens, approximately 4.2% of NEAR circulating supply, and a total treasury value exceeding $133 million at the time of announcement. G-20 Group was appointed in February 2026 as asset manager for SVRN's NEAR treasury yield strategy.

## SVRN's Transformation From OceanPal

SVRN announced on August 27, 2026 that it completed its corporate transformation from OceanPal Inc., effective on the filing of an amendment to its Articles of Incorporation, according to Stock Titan. Investing.com reported the same date that the company became a digital asset treasury focused on NEAR Protocol tokens. In June 2026, SVRN became the first institution to go live on Fireblocks Trust Company and Figment's institutional NEAR staking capability, Stock Titan reported.

## SVRN's Node and Network Growth Plans

SVRN's own node has operated on NEAR's main network since July 2026. The company said it intends to continue operating its node and to support the onboarding of additional operators as the network grows toward its target of 21. HSP-007, the incentive program funding the network, was co-authored by Ternullo and approved by NEAR's governance body, the House of Stake, in February 2026.

## Companies in this story

- [SVRN company profile](https://akta.pro/company-profiles/00n5xix/svrn) · website: https://www.svrn.net
- [NEAR company profile](https://akta.pro/company-profiles/00003xb/near) · website: https://near.org

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