Fireblocks Hits $30B In Digital Asset Transfers; Expands into APAC With 2 New Offices

Leading crypto security startup, Fireblocks has announced it is opening new offices in Asia in Singapore as well as Hong Kong.

On April 30, Fireblocks revealed that its platform has so far transferred digital assets worth $30 billion and at the moment conducts transactions worth more than $7 billion every month.

The firm revealed that it is opening new branches in Asia-Pacific region both in Singapore and Hong Kong to serve the increasing demand in the area. The firm also revealed that the new offices will help in serving the local customers in their own locality. The firm also aims at attracting new institutional clients into the Secure Transfer Environment space.

The firm has witnessed an increased demand for its products and services within the Asia-pacific region. Three Arrows Capital, Amber Group and Blitz Group have already implemented the firm’s Multi-Party Computation technology.

The head of product strategy at the firm Stephen Richardson who also heads one of the regional office expounded on the interest in the Asia-pacific region to Bitcoin Exchange Guide:

“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.”

The New York based firm offers digital asset security systems using proprietary software as well as hardware technologies in order to protect private keys, deposit addresses as well as API credentials for institutional clients.

The platform enables secure transaction of cryptos among exchanges, counterparties as well as wallets.

After a thorough analysis of the firm’s protocols as well as technologies, Fireblocks was granted a special insurance policy that covers assets which are in transit as well as storage. According to Fireblocks, the policy safeguards any loss of digital assets emanating from extortion, cyber breaches, among others.

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Author: Joseph Kibe

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