Fireblocks Exceeds $30 Billion in Digital Asset Transfers

The people behind Fireblocks, the platform, which prides itself on secure transfers, revealed that it has already ensured $30 billion in transfers of digital assets. With more than 40 institutional customers, the platform’s monthly transfer volume is exceeding $7 billion. In light of this progress, Fireblocks is opening two new offices in Hong Kong and Singapore and will deliver its MPC-based technology to the Asia-Pacific region.

Fireblocks is providing secure infrastructure for transferring, stashing, and issuing digital assets. Based in New York and Tel Aviv, it allows exchanges, banks, custodians, and hedge funds to securely scale digital asset-related activities.

The Asia-Pacific offices will be co-managed by Amy Zhang, VP of Sales Asia, and Stephen Richardson, VP of Product Strategy, who will have the pleasure to bring this next generation of tech innovation to probably the most mature digital asset markets globally. As a team, they will support current clients and onboard all new exchanges and institutions during its patent-pending Secure Transfer Environment. 

Fireblocks’ CEO and co-founder, Michael Shaulov described the idea behind the expansion:

“With the region’s unique eco-system 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 providers, they need maximum security and strict controls to protect customer funds. The only way to deliver that at scale is through our infrastructure.”

Currently, MPC with Fireblocks has been implemented by several APAC organizations that want to grow their digital asset portfolios, such as Blitz Group, Amber Group, and the Three Arrows Capital crypto hedge fund. 

“Fireblocks provides a secure and highly advanced solution for our customers by allowing us to securely transfer top assets while also being able to interact with new protocols, which is important for strategic portfolio construction,” commented the CEO of Amber Group, Michael Wu. “Many operators in Asia are transferring large value settlements and require an advanced MPC framework to keep up with new security demands that HSMs and Multisig solutions fail to address.”

When it comes to transaction security and safeguarding customers’ private keys, deposit addresses and API keys, Fireblocks incorporates MPC (Multi-Party Computation) with hardware isolation. Fireblocks’ Secure Transfer Environment allows institutions to transfer digital assets across 25+ exchanges, counterparties, custodians, and wallets in a secure manner. Governance policies with approvals based on quorum are fully automated.  

Stephen Richardson, VP of Product Strategy at Fireblocks commented on the needed of uncompromising security in the region:

“Given the engagement of regulators here in Asia around blockchain-related technologies and financial institutions, it will be critical for institutions and exchanges to operate with the highest level of speed, security, and compliance. By bringing Fireblocks to one of the most advanced crypto ecosystems, we hope to provide the infrastructure needed for sustainable growth.”

Fireblocks plans to get rid of all digital asset security vulnerabilities and starts by eliminating undesirable internal or external interference by establishing a secure environment, which is operationally efficient.

Furthermore, Fireblocks maintains its support for some of the largest operators like Celsius, B2C2, Galaxy Digital, Blockfills, Genesis Global Trading, Dunamis, GSR, LGO, Woorton, and Nexo.