We’re officially announcing our expansion into the European market beyond the UK, with new Fireblocks offices in France and Germany – continuing the globalization of our operations.
With our next-generation wallet and asset transfer technology, businesses in the region can launch custody services, tokenize assets, and develop a network of lending/liquidity partners to generate new revenue streams and modernize payments.
In fact, the announcement of our new offices coincides with another milestone we’ve reached as a company, which speaks to the growth period our industry is in: as of this month, we’ve facilitated the secure transfer of over $150 billion in digital assets.
We’re actively working to increase our global presence to meet the growing adoption of digital assets and real-time payment applications in Europe and around the world.
Digital asset custody regulations are expanding & so are we
Our decision to open two new offices in Europe stems from several developments, including a maturing regulatory environment in the region, and a subsequent need for next-generation wallet security and operational infrastructure among European FIs and fintech companies entering the digital asset custody space.
EU banks enter the space with new proposed crypto regulations
The European Union has become the latest jurisdiction to increase cryptocurrency adoption through improved regulatory clarity. In September, the EU’s executive branch proposed rules to provide legal guidance for corporates and investors looking to enter the digital asset space.
Some institutions in the European region have already increased efforts to participate in the central bank digital currency (CBDC), such as The Banque de France. The Central Bank of Netherlands and the Association of German Banks are also taking a leading role in supporting innovative cryptocurrency projects (such as the digital Euro).
Instant digital asset payments, the next big opportunity
Alongside this newly increased regulatory clarity, the value of transactions moving via instant payment rails in Europe is expected to multiply from $3 trillion to $18 trillion between 2020 and 2025 over the next five years. This year alone, there’s been a surge in new consumer-facing crypto products such as crypto credit/debit cards and systems for vendors to convert crypto into fiat – pointing to growth in the market and new opportunities for entrants. This new wave of innovation in the European digital asset space is another reason why we’re expanding Fireblocks presence in the region.
We aim to provide the secure rails and infrastructure FI’s and fintech companies in Europe need to launch new products and services, in addition to expanding support for our existing customers.
Powering Europe’s biggest fintech leaders and innovators
Recently, we’ve been enlisted by Revolut and AMDAX (the first digital asset exchange registered with the central bank of the Netherlands), alongside 20+ institutional customers in the region who’ve replaced legacy wallet and custody technology with MPC-CMP.
We checked a lot of custodian solutions on the market, and by far the best one for us was Fireblocks. The solution not only has cutting-edge tech with its MPC technology (enabling more client flexibility and control) but it also greatly decreases our administrational burden and vastly increases our settlement speed. On top of all of that, Fireblocks enables us to offer the most comprehensive digital asset insurance to our clients. This gives our clients a much better and safer experience and results in a more mature market.Melvin Lazeron Co-Founder & Director, AMDAX