Kaia has integrated Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain.
The collaboration enables institutions to securely manage and transfer assets on the Kaia blockchain / DLT network, reportedly “offering enhanced capabilities in tokenization, DeFi, and blockchain-based financial products.”
Fireblocks explains that it brings improved operational efficiency, reduced asset management risk, as well as “simplified regulatory compliance to the Kaia blockchain ecosystem.”
As noted in a blog post, Kaia reportedly utilizes Fireblocks’ institutional-grade digital asset infrastructure for secure asset management, including leveraging Fireblocks’ Multi Party Computation (MPC) wallet technology for distributed private key management and end-to-end security, “minimizing hacking risks. Kaia also leverages Fireblocks for extensive digital asset support and its API integration capabilities.”
These latest technological advantages aim to provide the following benefits to Kaia’s institutional users:
- Enhanced Security: Through Fireblocks’ MPC technology and secure asset management and transfer network, Kaia minimizes the risk of key theft and cyber attacks. This robust infrastructure enables the highest levels of security, lowering barriers to entry to blockchain for institutions.
- Improved Digital Asset Management Efficiency: By utilizing Fireblocks’ platform, Kaia streamlines digital asset workflows through automation, reducing costs and time. The enterprise-scale solution supports thousands of cryptocurrencies, tokens, and blockchain protocols, offering superior scalability for portfolio diversification and varied use cases.
- Global Compliance and Reliability: Through Fireblocks’ infrastructure, Kaia maintains strict compliance with global standards, including AML and KYC requirements, ensuring institutions meet regulatory standards. Robust reporting and auditing tools help institutions using the Kaia blockchain to comply with global regulations.
This latest Fireblocks integration reportedly provides institutions with a “secure, scalable solution for joining the Kaia ecosystem quickly and safely — marking an important step toward mainstream blockchain adoption.”
As covered last month, Fireblocks has strengthened its presence in the Asia-Pacific region by establishing a regional office in Tokyo, Japan.
According to the update from Fireblocks, Japan is said to be emerging as a key player in institutional blockchain adoption, driving Fireblocks to grow its presence by providing digital asset solutions to support this development.
As one of the Japan Financial Services Agency (JFSA)-approved cold wallet providers offering Multi-Party Computation (MPC) and Hardware Security Module (HSM) solutions, Fireblocks said that it is “doubling down on localization to deliver its globally renowned security and innovation to Japanese businesses.”