Fireblocks, an enterprise-grade platform providing the infrastructure for moving, storing, and issuing digital assets, recently announced it has secured the storage and transfer of $637 billion in digital assets since launching in 2019. As previously reported, Fireblocks claims it streamlines operations by bringing all your exchanges, OTCs, counterparties, hot wallets, and custodians into one platform. Wallets, deposit addresses, and API credentials are secured using patent-pending chip isolation technology and the newest breakthrough in cryptography (MPC).
“Fireblocks enables banks, fintechs, exchanges, liquidity providers, OTCs, and hedge funds to securely manage digital assets across a wide range of products and services. The technology consists of the Fireblocks Network and MPC-based Wallet Infrastructure.”
Fireblocks also now serves over 250 financial institutions. Speaking about the company’s development, Michael Shaulov, CEO and Co-Founder of Fireblocks, stated:
“Retail platforms have seen the steepest increase in operational costs associated with the exponential creation of new wallet addresses and transaction fees on the ETH network. We expect our volume to double before the end of the year as digital asset businesses continue to migrate away from multi-sig wallet technology and begin introducing more offerings for the growing crypto retail market.”
Fireblocks added it removes the complexity of working with digital assets while empowering the largest liquidity providers, lending desks, OTCs, and DeFi applications with top-of-the-line insurance, compliance, and security measures to frictionlessly build and scale digital asset products.