Digital bank Revolut has formed a new partnership with Fireblocks, a platform for securing digital assets, to securely expand its cryptocurrency services to 13 million global retail users. Revolute will be using Fireblocks’ MPC-based wallet and network infrastructure to support the introduction of services.
“As Fireblocks 100th customer, Revolut will lead in driving the international adoption of financial technology services, as Fireblocks provides the infrastructure needed for securing the payment railways for digital asset transfers.”
Speaking about the collaboration, Ed Cooper, Head of Crypto at Revolut, stated:
“Moving to Fireblocks’ wallet infrastructure gives us a competitive edge over other financial applications as it will enable us to rapidly add more advanced crypto features as the space continues to evolve at breakneck speed: we are now working closely with the Fireblocks team to explore all the new experiences that we can offer our customers in the near future.”
The duo also noted that with Fireblocks support, Revolut may now efficiently scale the framework of its crypto services by streamlining its storage, liquidity access, and settlements while maintaining governance and compliance. Michael Shaulov, CEO of Fireblocks, added:
“We have seen a tremendous amount of demand from fintech and challenger banks, especially ones that have begun forraying in the retail crypto market. We are excited to assist Revolut in driving the adoption of cryptocurrency by providing a trusted infrastructure for the next billion people coming into crypto.”