Fireblocks Taps Former NYDFS Crypto Regulator Peter Marton and Expert Cryptographer & Builder of EY's Nightfall Chaitanya Reddy Konda to Lead On-Chain Digital Identity and Programmable Compliance Initiatives

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Oct 24, 2023, 08:04 ET

The team will spearhead Fireblocks' efforts to develop crypto-native technologies to eliminate illicit activity and strengthen consumer protection

NEW YORK, Oct. 24, 2023 /PRNewswire/ -- Today, Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, announces the strategic appointments of Peter Marton, former Deputy Superintendent of Virtual Currency at the New York State Department of Financial Services (NYDFS), and leading cryptographer, Chaitanya Reddy Konda, who designed and built Nightfall, a pioneering privacy solution for Ethereum token transfers for EY. Together, they will lead the company's efforts to develop programmable blockchain-based compliance products and set international standards for on-chain identity for the digital asset industry.

Marton, an authority in digital asset regulation, joins Fireblocks as Director of Digital Identity, and will report directly to Jason Allegrante, Fireblocks' Chief Legal & Compliance Officer.

"Fireblocks has a long-standing commitment to enable our customers to safely and securely interact with the digital asset ecosystem by leveraging purpose-built blockchain and smart contract technologies," said Allegrante. "Peter's exceptional experience developing regulatory frameworks at one the world's preeminent virtual currency units should prove invaluable as we undertake the development of on-chain identity and programmable compliance solutions that will transform the digital and financial markets and help set the standards for safety, soundness, and consumer protection."

Fireblocks views the prevention of illicit financial activity and consumer protection as two critical components in ensuring the broad adoption of digital assets and blockchain technology. The combination of on-chain digital identity and usage of smart contracts is the most promising way to transition global compliance standards like those adopted by regulators and the Financial Action Task Force (FATF) to the blockchain context and enable their use by thousands of businesses, from financial institutions to corporations, and Web3. In addition to providing a new path for the private sector, these solutions will exceed the effectiveness of traditional methods of preventing financial crime, making financial products safer, more accessible, and cheaper for the broader industry.

"Joining Fireblocks offers an unparalleled opportunity to bridge the gap between regulatory compliance and technological innovation," said Marton. "On-chain digital identity and smart contracts are fundamental building blocks for a secure and accessible digital asset ecosystem. When a product like this is offered as part of the largest institutional digital asset transfer network, it has the potential to be transformative. I am really excited to work alongside a talented group of individuals on this opportunity."

Chaitanya Reddy Konda, assuming the role of Senior Technical Product Manager, Digital Identity & Privacy, is an established authority in the realm of applied cryptography. Best known for her instrumental role in designing and building EY's project Nightfall, a pioneering privacy solution for Ethereum that employs zk-SNARKs to facilitate token transfers, Konda will leverage her deep technical acumen to bolster the security protocols of the company's digital identity initiatives in her new position.

"My work in cryptography, particularly in zero-knowledge proofs, has always been about enhancing security and privacy in blockchain technologies," said Konda. "At Fireblocks, I see an opportunity to apply this expertise on a larger scale, contributing to a solution that could redefine how we think about digital identity, compliance, and customer protection." Konda will report to Fireblocks' VP of Web3 & Tokenization, Salick Cogan.

The appointments of Marton and Konda come at a time when the Fireblocks platform has quickly evolved to provide its customers with total control over the full life cycle of their digital assets and support the tokenization of digital assets, secure storage, payment workflows, and the transfer and distribution through the Fireblocks Network.

For those interested in learning more about Fireblocks' pioneering work in on-chain digital identity and other digital asset solutions, visit fireblocks.com.

About Fireblocks

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.

SOURCE Fireblocks