Fireblocks Surpasses $30 Billion in Digital Asset Transfers, Expands to Meet APAC Demand

Amber Group and Three Arrows Capital bring MPC to Asia

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Apr 30, 2020, 10:00 ET

NEW YORK, April 30, 2020 /PRNewswire/ -- Fireblocks (www.fireblocks.com) announced today its platform has been used to secure $30 billion in digital asset transfers to date, surpassing more than $7 billion in monthly transfer volume from its 40+ institutional customers. To drive the next wave of technological innovation in one of the most mature digital asset markets in the world, Fireblocks is bringing its MPC-based technology to the Asia-Pacific region with the opening of two new offices in Singapore and Hong Kong.

The company's APAC offices will be led by Stephen Richardson, VP of Product Strategy and Amy Zhang, VP of Sales Asia, to provide strategic support to existing customers and onboard new institutions and exchanges onto its patent-pending Secure Transfer Environment.

"With the region's unique eco-system of trading, payment and exchange activities, there has been a surge in demand for Fireblocks in Asia," explains Michael Shaulov, CEO and Co-founder of Fireblocks. "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."

In the region, Amber Group, Blitz Group, Singapore-based crypto hedge fund Three Arrows Capital, and more have implemented MPC with Fireblocks to securely expand digital asset services.

"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," said Michael Wu, CEO of Amber Group. "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."

Fireblocks' defense-in-depth approach to digital asset security combines MPC (Multi-Party Computation) with hardware isolation to protect customers' private keys, API keys, and deposit addresses from cyberattacks and internal fraud. By leveraging Fireblocks' Secure Transfer Environment, institutions can securely transfer digital assets between 25+ exchanges, custodians, counterparties, and other wallets while automating governance policies with quorum based approvals.

"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," said Stephen Richardson, VP of Product Strategy at Fireblocks. "By bringing Fireblocks to one of the most advanced crypto ecosystems, we hope to provide the infrastructure needed for sustainable growth."

Designed to eliminate the root cause of digital asset security vulnerabilities, Fireblocks ensures that funds are protected from unwanted external or internal interference by creating a safer, more operationally efficient environment for the digital asset industry. Fireblocks continues to provide support for the largest financial operators in the industry such as B2C2, Celsius, Genesis Global Trading, Galaxy Digital, Woorton, Dunamis, GSR, Blockfills, LGO, Nexo and more.

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 patent-pending SGX & MPC technology. They have secured the transfer of over $30 billion in digital assets and have a unique insurance policy that covers assets in storage & in transit. For more information, please visit www.fireblocks.com.

SOURCE Fireblocks