Alapt

Cryptocurrency news

Fireblocks launched the Secure Asset Transfer Network for the secure transfer of cryptocurrencies

Fireblocks launched the Secure Asset Transfer Network for the secure transfer of cryptocurrencies

Digital asset security company Fireblocks has introduced the Secure Asset Transfer Network for the secure transfer of cryptocurrencies between institutional clients.Vip

Fireblocks reported that before the launch, the network functioned as a reliable asset transfer environment in which users could connect to exchanges and add their wallets. However, thanks to the Secure Asset Transfer Network, the process of sending cryptocurrencies will be much faster.

Previously, customers had to manually add Fireblocks wallets. Now the network can be compared to a directory where users can find each other and send an add request to transfer digital assets. This approach will allow the parties to interact more effectively without intermediaries, which will reduce the time for calculations from a few days to a few seconds.

Fireblocks CEO Mikhail Shaulov noted that the network is aimed at institutional clients. Its main task is to eliminate the risks associated with sending cryptocurrencies, as well as to ensure that transactions are carried out in the blockchain in such a way that even those who do not have deep technical knowledge can quickly cope with this.

Shaulov added that to date, the total amount of crypto assets sent via the Fireblocks platform is $30 billion. The network is used by 55 institutions and 26 cryptocurrency exchanges, including Balance, Coinbase Pro, Gemini, Kraken, FT, B2 C2, Galaxy Digital and Genesis Trading. In addition, Fireblocks reported opening offices in Singapore and Hong Kong, as well as raising $16 million from investors.

Recall that last month, Fireblocks announced the development of a new multi-party computing Protocol (MPC), which will increase the transaction speed by 800%.