KEY POINTS
- The integration provides added protection for businesses handling highly sensitive financial data
- It also ensures that Fireblocks customers now have bolstered ability to prevent account breaches
- The Multi-Party Computation technology within Confidential Space significantly reduces the risk of compromise
Enterprise-grade platform for digital asset operations management Fireblocks announced today it has integrated Google Cloud's Confidential Space into its offering to further bolster security arrangements around customers' digital assets.
The integration is crucial for businesses seeking to mitigate risks associated with private key management, a fundamental component in securing digital assets.
Fireblocks has been helping build innovative businesses on the blockchain, and through the integration, it ensures that no single party has full access to private keys, significantly reducing the possibility of theft or misuse.
Key Benefits of the Integration
Building on the trust of its many customers, which include thousands of financial institutions, Fireblocks is further strengthening its security features with Google Cloud's Confidential Space.
- Extra protection for sensitive data – The integration provides an added layer of protection for businesses in highly-regulated industries or those that manage sensitive financial data as they can perform secure transactions while still meeting strict regulatory and compliance standards.
- Preventing breaches – Integrating Google Cloud's Confidential Space Virtual Machine (VM) alongside security tools like Attestation Service, Key Management Service (KMS) and Identity and Access Management (IAM), ensures that Fireblocks customers have stronger ability to prevent unauthorized access.
- Secure keys – The integration allows Fireblocks to leverage Google Cloud Confidential Space's Multi-Party Computation (MPC) technology, which securely distributes private keys across both Fireblocks' servers and client systems (neither Fireblocks, nor any single party can access the complete private key).
⚡ Fireblocks Automation is here! Maintain liquidity, manage risk, and safeguard your assets with automated workflows built for efficiency.
— Fireblocks (@FireblocksHQ) November 13, 2024
Discover how Fireblocks Automation can transform your operations → https://t.co/BZBu1EZxxr pic.twitter.com/81LG8gAvCV
Robust Security for Smoother Operations
Through the enhanced security provided by Confidential Space technology that ensures only authorized users can interact with sensitive data and the significant reduction of the risk of compromise, Fireblocks ensures that digital asset operations are managed in a highly safe and secure environment.
"This partnership demonstrates Fireblocks' commitment to expanding cloud capabilities to meet customer demand for the most robust security. This integration will be instrumental for large enterprises and institutions that require enhanced privacy and security for their digital asset operations," said Michael Shaulov, CEO and co-founder of Fireblocks, as per a press release shared with International Business Times.
Google Cloud is also looking forward to benefiting customers through the partnership. "Confidential Space, with its strong security guarantees combined with ease of use, has been widely adopted by the Web3 industry. We are excited to see this integration with Fireblocks that will benefit our mutual customers," said Rene Kolga, senior product manager with Google Cloud's confidential computing team.
Aside from the Confidential Space integration, Fireblocks has also been listed as a Google Cloud Marketplace vendor.
