Fireblocks Surpasses $150B In Digital Asset Transfers, Expands Europe Operations To France and The DACH Region

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Opens two new offices in Germany and France to expand presence

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Oct 27, 2020, 09:00 ET

NEW YORK, Oct. 27, 2020 /PRNewswire/ -- Fireblocks (www.fireblocks.com) announced today that its institutional customers, which includes exchanges, lending desks, banks, OTC desks, liquidity providers and hedge funds, have now transferred more than $150 billion in digital assets using its platform. To meet the growing adoption of digital assets and real-time payments, Fireblocks will be expanding its operations in Europe beyond London, adding two new offices in France and Germany.

The European Union has become the latest jurisdiction to take steps to accelerate the region's cryptocurrency adoption. In September, the EU's executive branch introduced proposed rules to provide legal guidance and clarity for corporates and investors to adopt cryptocurrencies. This year alone there has been a surge in new consumer-facing crypto products such as crypto credit/debit cards and systems for vendors to convert crypto into fiat, which points to growth in the market and new opportunities for entrants.

"The EU region is seeing increased interest from institutions as new regulatory clarity provides a framework for how to compliantly operate in the digital asset space," said Michael Shaulov, CEO of Fireblocks. "We are excited to expand our footprint in the region to help our customers launch product offerings for digital asset support and provide the tools that will steward this next phase of growth, innovation and adoption."

Fireblocks has inaugurated its entry into Europe with fintech leaders, Revolut, B2C2 and AMDAX, the first digital asset exchange registered with the central bank of the Netherlands, alongside 20+ institutional customers utilizing Firebocks' next-generation wallet technology – built with MPC-CMP that is proven to be more secure and operationally superior to multi-sig or standard MPC.

For these digital banks and fintech companies, Fireblocks provides the secure rails and wallet infrastructure to enable them to introduce creative products and services, generate new revenue streams and help introduce real-time global payments and other innovations to modernize payments services.

"We checked a lot of custodian solutions on the market, and by far the best one for us was Fireblocks," said Melvin Lazeron, Co-Founder & Director of AMDAX. "Their solution not only has cutting-edge tech with its MPC technology (enabling more client flexibility and control), but it also greatly decreases our administrational burden and vastly increases our settlement speed. On top of all of that, Fireblocks enables us to offer the most comprehensive digital asset insurance to our clients. This gives our clients a much better and safer experience and results in a more mature market."

In connection with this expansion, Fireblocks has appointed Jason P. Allegrante as its first Head Regulatory Counsel and Global Chief Compliance Officer. Mr. Allegrante brings over a decade of experience advising on global regulatory issues relevant to Fireblocks' expanded business to the role, and he will be responsible for supporting the Fireblocks team across a broad portfolio of legal, regulatory and compliance matters. Prior to joining Fireblocks, Mr. Allegrante held senior in-house legal positions at fintech startups, practiced law at the firms Davis Polk & Wardwell and Linklaters LLP, and served in the Financial Institution Supervision Group of the Federal Reserve Bank of New York.

About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks has secured the transfer of over $150 billion in digital assets and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com.

SOURCE Fireblocks