Crypto Custody Tech Provider Fireblocks Receives First-of-Its-Kind Security Certificate

This eliminates a single point XRP of failure and insulates fireblock crypto assets from cyber-attacks, internal collusion, and human error. Fireblocks’ MPC-CMP algorithm helps you meet client SLAs regardless of your wallet configuration. Blockchain security service provider for moving, storing, and issuing digital assets.

“They can use any of the 42 blockchains and 1,300+ tokens that Fireblocks supports,” he said. Goldi also clarified that due to a confluence of factors — including regulatory changes— stablecoins have emerged as the front-runner for digital asset payments. Digital asset custody solutions enable clients like financial institutions, enterprises, and investors to manage digital assets like cryptocurrencies. The two companies also announced that the Sui Foundation will custody its own treasury with BitGo and stake part of this treasury using BitGo’s wallets. Hex Trust is a fully licensed and insured provider of bank-grade custody for digital assets.

They operate as an infrastructure service provider for digital asset custody, transfer and settlement. Their primary customers range from corporate institutions, exchanges, financial service companies, brokerage and trading desks. Bitstamp, announced today, that its crypto exchange would integrate with SignetTM, Signature Bank’s commercial digital payments platform. The move is another example where crypto exchanges are integrating digital assets services with traditional and regulated financial institutions. Ran Goldi, Fireblocks’ vice president of payments, told Cointelegraph that the solution is “token-agnostic,” meaning that payment service providers can incorporate whatever type of digital assets they want.

Fireblocks – Solutions on RSK

“In the last several years, critical work has been done in the space to address pieces of the payments system,” Michael Shaulov, CEO of Fireblocks, said in a statement. “From stablecoin settlement to cross-border payments to payouts for creators, we believe that the payments system must be addressed holistically, especially as we see digital assets continue to proliferate into mainstream technologies and the global economy.” Fireblocks offers more advanced MPC wallet technology that is more secure, flexible and cost effective compared to BitGo’s antiquated multi-sig wallet technology. MPC wallets offer significant scalability advantages compared to multi-sig wallets and greater compatibility with a wide range of blockchain protocols. Because MCP wallets can conduct operations off-chain, they offer significant cost advantages when it comes to Ethereum operations, saving up to 90% compared to multi-sig solutions for Ethereum wallet and transaction management. Fireblocks leverages multi-party computation cryptography to secure digital assets from external and internal threats and human errors by eliminating the private key as a single source of compromise.

Use Fireblocks Cold Wallet to safely authorize operations initiated from your Fireblocks web console. Fireblocks is the premier complete platform for managing your crypto, web3, and digital asset business. The Reap Card simplifies the process of settling global payments in fiat by using USDC, USDT, BTC, and ETH seamlessly to resolve the problem of costly handling fees that include multiple off-ramp parties.

Company

If a counterparty holds custody of your crypto or digital assets, there is no replacement for due diligence in terms of risk management, security… Day-to-day crypto and digital asset operations is one of the most important and business-critical functions for any company working with digital assets – whether… This will allow the fintech’s services to be more accessible for users by assuring there will be no restrictions when it comes to making transactions, it said. Fireblocks’ MPC-CMP technology has become widely adopted by some of the world’s most recognized institutions and startups such as BNP Paribas, Six Digital Exchange, ANZ Bank, FIS, Checkout.com, MoonPay, Animoca Brands, and Wirex. In 2022, over 1,500 organizations deployed Fireblocks’ technology to protect customer and investor funds, strengthen digital asset security, and streamline day-to-day crypto operations. The types of tokens used to settle payments with merchants depend on the payment service providers and what types of cryptocurrencies they make available for their customers, though.

Secure customer and investor funds from cyber attacks, internal collusion and human error with a multi-layer technology that combines the latest breakthroughs in MPC cryptography with hardware isolation. Venture capitals and investors alike have announced that they have fundraised millions of dollars to crypto-based companies this week. Fireblock’s Payments Engine aims to provide a turnkey solution for businesses looking to integrate cryptocurrencies into their products.

OSL Custody

Blockchain infrastructure provider Fireblocks has launched a suite of developer tools and a portal for customers to access cryptocurrency exchanges, NFT marketplaces and other decentralized applications across multiple networks. Meanwhile, a 2022 study of merchants with an annual income of at least $1 billion revealed that the vast majority of businesses were already pivoting to digital assets. The survey, which was conducted by PYMNTS and BitPay, found that 85% of merchants were looking to adopt crypto payments to grow their customer base. Following a successful pilot phase, digital asset custody platform Fireblocks has launched its new payment engine for merchants, opening up pathways for businesses to settle and accept cryptocurrency transactions across jurisdictions.

The Fireblocks platform supports growing demand from the world’s leading banks and traditional FIs who have turned their attention to digital assets on RSK and other blockchain networks. As the future of digital assets goes beyond bitcoin, the Fireblocks platform is ready to support the next generation of digital asset businesses, including everything from payments and settlement solutions to digital securities, gaming, and NFTs. Founded in 2018, Fireblocks is an end-to-end platform to store, transfer, and issue digital assets. Using best-in-class MPC-CMP cryptography, Fireblocks provides institutional-grade custody technology for digital assets, facilitating almost instantaneous transfer without compromising security. Fireblocks has also built a network of authenticated counterparties for seamless asset transfer and liquidity, driving strong network effects for all customers and stakeholders.

These customers include some of the most prolific traders, exchanges, and institutions who serve millions of consumers, underscoring Fireblocks’ enterprise-grade solution. Fireblocks enables banks, fintech, exchanges, liquidity providers, OTCs, and hedge funds to securely manage digital assets across a wide rangeof products and services. The technology consists of the Fireblocks Network and MPC-based Wallet Infrastructure. Ledger leverages encrypted chips technology to build security solutions for cryptocurrencies and blockchains. The company builds hardware wallets for consumers, hardware security modules for enterprises and hardware oracles for the MATIC IoT world. Founded in 2018, Fireblocks is an all-in-one platform that helps its customers build their digital asset business.

The Digital Asset Insider is your monthly recap on what’s been going on in the digital asset space. XDC Network is an enterprise-ready, open-source protocol that combines the power of private and public blockchains. Per a press release, start-ups based at Hub71+ Digital Assets will also be able to apply for funding with the $250 million TONcoin.Fund. Digital payment platform Wirex said that it became “the world’s first non-custodial wallet without seed phrase vulnerability to launch the Stellar blockchain.” With this, stellar and USD coin on Stellar have been added to the Wirex Wallet.

Payments news

Prior to founding Fireblocks, Michael sold his mobile security startup to Checkpoint, where he was the Head of Mobile and Cloud Security Products. The CCSS was created in 2014, but until now no crypto company has met the necessary standards. Helpful resources, company updates, and insider info to keep you ahead of the industry. Fantom, an innovative Layer-1, EVM-compatible blockchain platform intended to improve upon Ethereum’s scalability issues, is now available on Fireblocks.

https://www.beaxy.com/ is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. Tassat is a financial technology company that provides solutions to financial markets utilizing blockchain-based technologies to enable asset transfer and settlement.

Regulation news

“Right now, Fireblocks is the number one and the go-to provider for any institution that is looking to have some exposure to DeFi. Out of our 800 clients, about 200 are actually using our DeFi extensions that connect them to different protocols,” he said. In terms of crypto products, decentralized finance has been an especially hot growth area for the startup, accounting for 10% of Fireblocks’ transaction volume in the past month, according to Shaulov. The company plans to use the proceeds from the latest fundraise to double its 300-person team by the end of 2022 with a focus on hiring engineers and customer success professionals. Merchants will be able to settle transactions through USD coin with Fireblocks’ payment technology.

Fireblocks, which provides custody and other digital assets-related services for the institutional crowd, has raised $310 million in a Series D funding round. Fireblocks’ mission to enable every business to easily and securely support digital assets and cryptocurrencies. Institutionally-focused crypto custodian servicing BNY Mellon and popular decentralized finance applications Compound Treasury and Aave Arc. In April 2022, Fireblocks partnered with payments giant FIS to provide its more than 6,000 capital markets clients access to crypto trading and lending services. Fireblocks expanded its infrastructure offerings to include crypto payments when it acquired First Digital, a stablecoin settlement platform, in February 2022.

Open-source blockchain ecosystem Celo announced it’s digital wallet Valora will now operate as an independent company amidst the close of the Series A round. Reap is supported by industry-leading investors including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures and Payment Asia. Reap was founded in 2018 and has expanded to a team of over 40, working across offices in 7 countries. Fireblocks raises a $30 million Series B to continue building its crypto backend that already has handled more than $150 billion in digital asset transfers. Switzerland-based StakeHound is suing Fireblocks for 38,178 ETH staked on Ethereum that has been rendered inaccessible.

• Fireblocks began serving crypto-native investment managers and exchanges and has since expanded its customer base to include some of the largest traditional financial institutions and fintech companies in the world.
• Following a successful pilot phase, digital asset custody platform Fireblocks has launched its new payment engine for merchants, opening up pathways for businesses to settle and accept cryptocurrency transactions across jurisdictions.
• “Together we will enable crypto-native and traditional businesses to accept, manage and settle digital assets so that they may choose their preferred currency for conducting business,” Manji said in a statement.
• When working with digital assets or crypto, it can be difficult to know how many organizations and teams have access to your private keys…
• Everledger has attracted a $20 million funding round from some heavy hitters in the enterprise blockchain space.
• Helpful resources, company updates, and insider info to keep you ahead of the industry.

“It’s like a SaaS software that allows to run their own custody using their own wallets in a high-end, secure, institutional way,” Shaulov said. Crypto custody platform Fireblocks is quite possibly “the most successful and least-known company in the blockchain space,” as described by its co-founder and CEO Michael Shaulov in an interview with TechCrunch. The custody and wallet tech provider is looking to expand beyond institutions involved in DeFi to a broader developer community around gaming, social media and entertainment. The new “payment engine” will allow merchants to quickly access funds from customer sales through instant fiat-to-stablecoin conversion. Fireblocks received a level three certification – the highest there is – and the one most suitable for enterprises. Fireblocks has received the Cryptocurrency Security Standard , a first-of-its-kind certification that was built as a security standard for crypto wallets and custody.

Coincover said Fireblocks customers can rely on fixed processes and a standard service level agreement. Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Sign up for The Node, our daily newsletter bringing you the biggest crypto news and ideas. ABN AMRO, headquartered in Amsterdam, became the first bank in Europe to register a digital bond on the public blockchain, using Fireblocks. Today, Fireblocks is expanding access to the DeFi ecosystem on TRON, the second-largest DeFi protocol.

Another advantage of the Engine, as highlighted by Fireblocks, is that it allows merchants to accept cryptocurrencies as a payment method with significantly lower processing fees. At today’s launch, Worldpay—a payment processing company that was acquired by Fidelity Information Services in 2019—has joined as a network partner and will also help Fireblocks iterate and improve the Payments Engine. Rsk is the most secure smart contract network in the world and enables decentralized applications secured by the Bitcoin Network to empower people and improve the quality of life of millions. Everledger has attracted a $20 million funding round from some heavy hitters in the enterprise blockchain space.

Enjoy peace of mind with the only insurance policy that covers assets in storage, transfer and E&O. Get higher transaction speeds; greater developer access, and store; and EVM-compatible, for easy porting of Ethereum based apps. ERC-20 self-service functionality empowers users to add support on Ethereum, BNB Chain, Avalanche and other EVM chains directly from the Fireblocks workspace. FireblogsRead about the latest industry trends, platform updates, research, and insights from our experts. Exchanges Drive trading volume without sacrificing security or operational efficiency. Platform-Icon Payments Launch new merchant services with the newest payment suite from Fireblocks.

She is a recent graduate of New York University’s business and economic reporting program. Securely access the full range of DeFi protocols for strategies like decentralized exchange trading, lending/borrowing, staking, and yield farming. Platform-Icon Fireblocks Network The most connected institutional network gives you fast and secure on-chain settlement. The integration will allow for an increase in the company’s institutional trading volume.