Fireblocks Monthly Turnover Hits $7 Billion In Crypto Transfers

The Fidelity-backed crypto-security firm Fireblocks said it now moves more than $7 Billion in crypto per month since launching out of stealth mode in mid-2019. In less than 10 months, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term security firm has crossed $30 billion in digital asset transfers through the user interface and API, and also achieved solid increases in customer growth, having onboarded more than 40 institutional customers.

Fireblocks is also expanding its reach into the Asia-Pacific region with the opening of two new offices in Singapore and Hong Kong. In the region, Fireblocks counts Amber Group, Blitz Group, and crypto hedge fund Three Arrows Capital as users of its enterprise-grade platform.

Michael Shaulov, CEO and Co-founder of Fireblocks, said, “With the region’s unique ecosystem of trading, payment and exchange activities, there has been a surge in demand for Fireblocks in Asia. In Hong Kong, Amber Group was one of the first adopters of Fireblocks’ MPC-based technology. Because they are one of Asia’s leading Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers, they need maximum security and strict controls to protect customer funds. The only way to deliver that at scale is through our infrastructure.”

Fireblocks’ technology, dubbed ‘Secure Transfer Environment,’ allows for trading digital assets between exchanges, wallets, custodians, and counterparties while meeting all enterprise security requirements. It offers safe transitions of crypto assets between those providers and claims to eliminate the theft of private keys or compromise of API keys and deposit addresses using the chip isolation technology (SGX).

The company is backed by Tenaya Capital, Fidelity’s investment arm Eight Roads, and counts Galaxy Digital, Celsius, Genesis, and other large institutional players as clients. Fireblocks supports over 180 tokens and has obtained access to more than 20 major exchanges that are reportedly moving nearly $2.5 billion in digital assets each month.

Fireblocks also tried to present several different use cases for its users, like earning passive income or safeguarding assets. Most recently, it partnered with the DeFi platform to offer OTCs, exchanges, and funds to deploy assets onto Compound and earn 3% to 7% interest.