Fireblocks VP, Head of Corporate Strategy Predicts that More Financial Institutions Will Leverage Stablecoins in 2023

As the crypto and blockchain industry enters a new year, Fireblocks’ Vice President & Head of Corporate Strategy Adam Levine, shares key predictions of institutions eyeing the space:

  • More traditional financial institutions leverage stablecoins
  • Bigger players will use blockchain technology to unlock some of the liquidity that may be challenging to unlock in the private or smaller markets.
  • Corporations are entering Web3, where they’re looking at how to engage with clients, which could be NFTs or cryptocurrencies
  • Regulators are thinking about a permissioned DeFi pool that they see as a more efficient, creative, or preferred way to allow for the exchange of commerce in DeFi
  • Completely anonymized DeFi will come with increasingly more challenges
  • Financial services will become increasingly more digitized and tokenized, and the change of commerce is going to be on-chain.

As covered recently, Fireblocks, an “easy-to-use” platform to create innovative products on the blockchain and manage day-to-day crypto operations, announced that it has become the first company to have its digital asset infrastructure system “certified by the CryptoCurrency Certification Consortium (C4) as a CryptoCurrency Security Standard (CCSS) Level 3 Qualified Service Provider (QSP).”

Crafted and peer-reviewed by a team of cryptocurrency and cybersecurity veterans including Andreas M. Antonopopulous, Michael Perklin, Petri Basson, Jameson Lopp and S. Dirk Anderson, CryptoCurrency Security Standard (CCSS) is “an industry-first set of requirements for all information systems that make use of cryptocurrencies, including exchanges, web applications, and cryptocurrency storage solutions.”

By standardizing the techniques and methodologies used by systems around the globe, CCSS ensures “a balance between security and usability so that end-users can easily make educated decisions about which companies and products they wish to align.’

As reported earlier this year, Fireblocks, a platform to create innovative products on the blockchain and manage day-to-day crypto operations, announced the public launch of its Payments Engine, a new suite of tools that will “enable payment service providers (PSPs) with the ability to provide a blockchain agnostic, end-to-end solution for merchants, entrepreneurs and creators to accept, manage and settle digital asset payment transactions across any geography.”

Early pilot partner Checkout.com, who was instrumental in supporting the development of the Payments Engine, has “facilitated more than $1 billion in digital asset merchant settlements through their solution this year.”

As noted in the update, Fireblocks welcomes FIS, which claims to be “the largest merchant acquirer in the world, into its network of partners using the Payments Engine.”

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