As more and more institutions are moving towards crypto trading, Fireblocks on Tuesday announced that it is moving $2.5 billion in digital assets each month.
The company detailed that it recorded a 400 percent increase in customer growth and 150 percent month-to-month growth of cryptocurrency transfers through its user interface and application programming interface (API).
Commenting on the massive impact on the market, Michael Shaulov, CEO and co-founder of Fireblocks, said: “There are other good institutional wallet offerings on the market, but The Fireblocks’ Secure Transfer Environment is what makes us so unique.”
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Building trust with a secure platform
Secure Transfer Environment offered by Fireblock is an ultra-secure account offered to the financial institutions that connect to a high-speed payment network, enabling the swift and secure movement of blockchain-based digital assets between exchanges, counterparties, custodians, and customers.
The company also revealed that major institutional crypto players, including Celsius, Amber AI, Genesis Global Trading, Galaxy Digital, Woorton, Dunamis, GSR, and Blockfills, use its solutions to store and transfer digital assets.
The rapid growth of the platform can also be backed by the pace at which it added support to digital assets. During its launch in June, the New York-headquartered company supported only 15 digital currencies. However, now it added over 180 cryptocurrencies, which include an array of ERC-20 tokens, along with access to 23 crypto exchanges.
“We eliminated the main security issue of deposit addresses with our Secure Transfer Environment, which monolithically integrates into the Fireblocks MPC based wallet system. Even with a small operations team, our customers can move their digital assets 1000 times per day at the click of a button. They don’t have a fear of losing it to a hacker, rogue employee, or human error,” Pavel Berengoltz, co-founder and vice president of research and development at Fireblocks, added.