1 min. read
How Orbital Uses Fireblocks Automation to Increase Efficiency and Security
Benefits at a glance
100’s of hours monthly saved
Minimized human error
Increased transaction execution speed
Orbital utilizes stablecoins to improve and streamline cross-border payments for businesses. Fireblocks provides the digital asset custody infrastructure for the company; Fireblocks Automation has been pivotal for Orbital, empowering the company to eliminate hundreds of hours monthly, execute transactions more quickly, and improve transaction security.
Read on to learn more about how Orbital uses Fireblocks to streamline operations.
About Orbital
Orbital is a London-Tallinn-Gibraltar based global payments solutions provider delivering traditional and crypto payments powered by stablecoins. Established in 2017, Orbital holds licenses in three jurisdictions enabling it to provide an all-in-one global payments platform offering pay-ins, payouts, conversion, global accounts in both traditional and crypto currencies, and a crypto payment gateway for businesses.
Orbital allows businesses to operate globally without the hassle of time-consuming and expensive cross-border payments. With a strong focus on regulation, compliance, and top-tier security measures, Orbital is a trusted provider of innovative cross-border payments and crypto payment gateways. Backed by a team of experienced fintech professionals, the company enables modern payment rails for businesses worldwide.
As the use of stablecoins continue to grow with greater value transfer and new use cases, Orbital looks to be the dominant payment platform specializing in enabling businesses to transact using these modern rails.
Working with Fireblocks to solve cross-border payment pain points
Shortly after Orbital was founded, with the goal of solving pain points in cross-border payments, the company quickly innovated to leverage stablecoins to create efficiencies in their client’s payment flows. They knew that the custody and security of handling blockchain-based currencies was of paramount importance, and that they started looking for a partner with deep expertise.
Orbital was looking for a partner which specialized in securing digital assets whilst allowing the business to remain the custodian and maintain control of the assets. They also required a solution that allowed them to create a complex ruleset for managing and executing payment authorizations, all the while remaining as secure as possible. Fireblocks stood out as a clear market leader in terms of product maturity and domain expertise. It was one of the few solutions which leveraged MPC cryptography, offered an enterprise-level transaction management system, and supported the breadth of chains Orbital required.
5 years later, Orbital continues to use Fireblocks forits digital asset custody infrastructure. Its developer-friendly platform, industry expertise to ensure that Orbital is leveraging the platform in the most secure manner possible, and continuous innovation to meet Orbital’s new and unique business requirements has made Fireblocks the ideal long term partner.
Implementing Fireblocks Automation
Orbital’s payment and treasury team handles over 300 actions per month, with dozens occurring daily.
Before using Fireblocks Automation, all our payment and treasury operations were manual and required 24/7 monitoring. We’re now using the product to rebalance digital assets so that our hot wallets always have sufficient liquidity to process client payment requests.
Orbital was looking to optimize for reducing operational burden from a resource perspective, combined with increasing efficiency in speed of execution. They were excited by the possibility of reducing, or even eliminating, the operational burden on a number of treasury operations.
For Orbital, automation has saved hundreds of hours monthly, increased the speed at which they execute the required transactions, reduced human errors, and ultimately increased security.
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