Blockchain Startup Fireblocks Surpasses $30 Billion In Transfers

Fireblocks announced today that their services had been used to secure $30 billion in digital asset transfers, cumulatively since their June 2019 launch.  Last November, Forbes reported the Start-up moving $2.5 Billion. The Company also said that they are expanding into the Asia-Pacific region with the opening of two new offices in Singapore and Hong Kong.

Stephen Richardson, Vice President of Product Strategy and Amy Zhang, Vice President of Sales Asia, will lead the new Asian-based offices and provide strategic support to existing customers and new institutions.

In the region, the Fireblocks platform has been adopted by the Amber Group, Blitz Group, and Singapore-based crypto hedge fund Three Arrows Capital.

Fireblocks is an enterprise-grade platform that transfers, stores and issues digital assets. Fireblocks serves digital asset exchanges, custodians, banks, trading desks, and hedge funds like SWIFT serves the currency markets. The Company created a solution that combines both multi-party computation-based cryptography (MPC) with chip-level isolation technology.

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.” He continued, “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.”

Previously this month: Bitstamp, one of the largest European cryptocurrency exchanges, announced on April 14th, they will be the first exchange on Fireblocks’ infrastructure to enable institutional transactions to one confirmation.

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