Fireblocks rolls out 'Asset Transfer Network' with 55+ institutional members

Wednesday 3 June 2020 13:05 CET | News

Fireblocks has announced the launch of an open and secure digital ‘Asset Transfer Network’ for institutions.

With the Fireblocks Network, users can find and connect with financial institutions and exchanges to transfer assets on-chain and without taking counterparty risk to Fireblocks. Over 55 institutions and 26 exchanges are already active on the Network, including liquidity providers, exchanges, lending desks, brokers, market makers, clearinghouses, and custodians.

The Fireblocks Network aims to solve a core impediment to the adoption of digital assets by financial institutions: the lack of security and speed of transfers. This new platform introduces an open and on-chain network where financial institutions can find and connect with their peers while streamlining settlement and post-trade operations.

For institutions, utilising the Fireblocks Network eliminates elements from the settlement process, such as deposit addresses, test transfers, and whitelisting. Currently, the Fireblocks platform transfers USD 8.5 billion digital assets per month, with USD 30 billion+ transferred to date, according to the official press release. At launch, users of the Fireblocks Network can transfer assets across 55+ counterparties at 26+ exchanges, with support for more than 200 tokens.

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Keywords: Fireblocks, asset transfer network, digital assets, tokens, financial institutions, digitalisation
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies