Fireblocks Tops $30 Billion in Digital Assets Transfers, Sees Strong APAC Demand

Fireblocks reports having topped $30 billion in digital asset transfers and over $7 billion in monthly transfers, according to a company release.

Fireblocks is an enterprise-grade platform providing the infrastructure for moving, storing, and issuing digital assets. Fireblocks seeks to enable exchanges, custodians, banks, trading desks, and hedge funds to scale digital asset operations.

Fireblocks simultaneously announced several new offices in Asia to better service regional demand. Fireblocks is opening two offices with one being in Hong Kong, the other in Singapore – two established Fintech hubs.

Fireblock’s APAC offices will be led by Stephen Richardson, VP of Product Strategy and Amy Zhang, VP of Sales Asia.

Michael Shaulov, CEO and Co-founder of Fireblocks, said the APAC regions unique ecosystem of trading has driven a huge surge in demand for Fireblock’s services:

“In Hong Kong, Amber Group was one of the first adopters of Fireblocks’ MPC-based technology. Because they are one of Asia’s leading liquidity providers, they need maximum security and strict controls to protect customer funds. The only way to deliver that at scale is through our infrastructure.”

In the region, Amber Group, Blitz Group, Singapore-based crypto hedge fund Three Arrows Capital, and more are said to have implemented MPC with Fireblocks to securely expand digital asset services.

Fireblocks has developed a “Secure Transfer Environment” that protects users’ private keys, deposit addresses, and API keys. This has been accomplished via a combination of MPC (multi-party computation) and Intel SGX (chip-level hardware isolation).

Michael Wu, CEO of Amber Group, said that many operators in Asia are transferring large value settlements and require an advanced MPC framework to keep up with new security demands that “HSMs and Multisig solutions fail to address.”

Institutions can securely transfer digital assets between 25+ exchanges, custodians, counterparties, and other wallets.

Fireblocks seeks to eliminate the root cause of digital asset security vulnerabilities with its tech stack. Fireblocks works with many of the largest financial operators in the industry such as B2C2, Celsius, Genesis Global Trading, Galaxy Digital, Woorton, Dunamis, GSR, Blockfills, LGO, Nexo and more.

Sponsored Links by DQ Promote



Send this to a friend