Institutional digital asset firm Fireblocks says it has added support for five new fiat currencies with plans to add 25 more in the coming months.
Fireblocks as added support for the Euro (EUR), Swiss Franc (CHF), British Pound (GBP), Singapore Dollar (SGD), and Japanese Yen (JPY).
Fireblocks notes that by incorporating BCB Group’s BLINC into its network, it can enable payment companies and institutional trading firms to instantly and securely transfer fiat with over 1,800 counterparties. Transactions between crypto and fiat currencies are effectively cleared in real time.
Fireblocks offers very secure infrastructure to store, move, and issue digital assets. Operating from Tel Aviv, FireBlocks says it serves thousands of financial institutions, while having secured the transfer of over $4 trillion in digital assets. The company also offers an insurance policy that covers assets in storage & transit.
Ran Goldi, SVP of Payments and Network at Fireblocks, said that working with BCB Gropu will greatly expand their on/off ramps between fiat and crypto. These ramps are vital for facilitating both payments and trading in the digital asset sector, both for exchanges and for traditional financial services firms.