KEY POINTS
- The program's first five partners are CloudTech Group, Zerocap, Zodia Custody, Rakkar, and Komainu
- The program is on a mission of providing "unparalleled access" to digital assets services
- Fireblocks' partnerships should help address the security and regulatory demands in crypto operations
Leading digital asset custody, transfer and settlement platform Fireblocks on Thursday announced the first members of its Global Custodian Partner Program, which provides secure technology for cryptocurrency custody.
Through Fireblocks technology, existing and future customers will be able to easily streamline their digital asset operations through Fireblocks and connect securely with local, licensed custody partners across the United States, United Kingdom, Australia, Singapore, Hong Kong, Thailand, Ireland, Luxembourg, New Zealand, Japan, and the United Arab Emirates in the coming months.
The Global Custodian Partner Program empowers customers to seamlessly connect to reliable licensed custodians, with CloudTech Group, Zerocap, Zodia Custody, Rakkar and Komainu as the first members.
Fireblocks champions secure transactions with thousands of trusted counterparties and access the burgeoning world of decentralized applications (dApps) from a single, user-friendly platform. Under the partner program, customers' digital asset treasury management are streamlined, powered by Fireblocks Network, an institutional-grade crypto transfer platform for swift digital asset transactions and dynamic payment workflows.
"Security is the foundation of everything we do, empowering our partners and clients to do more with digital assets. Our approach is complex yet robust, combining our trustless architecture with Halborn's expertise. Our strong team—comprised of security researchers, red teams,… pic.twitter.com/TU2wRPeXuY
— Fireblocks (@FireblocksHQ) June 27, 2024
The regulatory environment continues to evolve along with the evolution of counterparty risks. Fireblocks' technology helps address the increasing need for trusted custody offerings that not only support growth among customers but also provide the most secure cold storage and custody solutions.
Crypto market capitalization more than doubled over the last year to $2.2 trillion. With a surge in overall value and participation, demand for safe, segregated, and professional-grade solutions has also been on the rise, especially as regulators work out issues on clarity.
Fireblocks' Global Custodian Partner Program seeks to help businesses innovate while managing the complex and ever-evolving regulatory space. "Our initial custodian partners bring expertise and trusted services that are essential for the growing regulatory and security demands for many new digital asset operations," Adam Levine, SVP of Corporate Development and Partnerships at Fireblocks, told International Business Times in a statement.
"We are excited to collaborate with industry leaders and provide unparalleled access to licensed custodians, self-custody wallets, liquidity pools, exchanges, and other essential digital asset services on a global scale," he added.
Blockchain company CloudTech Group, which recently joined the RegTech Association, is just as excited for the partnership with Fireblocks. "By becoming a Custody Partner, CloudTech is marking a significant step forward in one of our four pillars – swap, spend, store, and save – by providing secure and reliable custodial services to store our customers' digital assets," said Robert Waugh, CTO at CloudTech Group.
Liquidity and on-chain custody provider Zerocap has been a long-time user of Fireblocks. "Formalizing this partnership allows us to continue providing our institutional clients with secure digital asset storage and liquidity, to support their unique trading needs," said Ryan McCall, CEO at Zerocap.
Capital efficiency-centric Rakkar takes pride in being Fireblocks' only strategic partner so far with a focus on the Asian region, said Arthit Sriumporn, the founder and CEO of Rakkar. "As one of its first members, we look forward to bringing the Global Custodian Partner Program to market together."
Julian Sawyer, the CEO at institutional custody firm Zodia Custody, noted that the future success of the crypto ecosystem relies heavily on collaboration and connectivity, and he believes the partnership with Fireblocks will help achieve that level of success. "Together, we are making a great leap towards greater utility and optionality for institutional participants, whilst remaining true to our ethos of providing safe and compliant custody without compromise," he said.
For Paul Frost, the co-CEO of crypto custody firm Komainu, the partnership "highlights our dedication to developing a robust institutional ecosystem" as the institutional demand for regulated custody solutions grows.
Founded in 2018, Fireblocks has made it to the forefront of delivering secure custody solutions that meet the needs of institutional clients around the world. It offers customers with a wide range of applications to help manage digital asset operations and also provides a complete development platform for building businesses on the blockchain.
