1 min. read
Building the Future of Regulated Finance: The Kingdom Bank’s Journey to Fireblocks
Benefits at a glance
50% improvement across settlement success rates and reconciliation time
10+ liquidity providers connected through the Fireblocks Network
Zero material loss events attributable to custody or key-management failures
The Kingdom Bank is a licensed and regulated digital bank serving a sophisticated global customer base. After surpassing €10 billion in total deposits in 2025, the bank required digital asset infrastructure that could match the scale, security, and governance standards demanded by institutional finance. Fireblocks has enabled The Kingdom Bank to unify treasury operations, custody, and multi-counterparty settlement into a single institutional-grade platform. By using Fireblocks, The Kingdom Bank has demonstrated how regulated financial institutions can responsibly scale digital asset services.
Fragmented Infrastructure, Institutional Stakes
While commodities have long been accessible through traditional financial products, crypto exchanges have historically set out to solve a big challenge: how to manage fiat and digital assets together at scale while maintaining institutional-grade security, oversight, and operational certainty.
Before Fireblocks, The Kingdom Bank faced a structural gap common across the industry. They required the efficiency of digital assets without the vulnerabilities of personal key management or fragmented custody arrangements. Their clients needed a controlled environment where OTC transactions, liquidity management, settlement, and counterparty coordination could be executed with the discipline expected in traditional banking. Multiple platforms, disconnected custody solutions, and inconsistent controls created compounding operational complexity and governance risk.
The Challenge: Achieving The Institutional Standard
The Kingdom Bank’s clients expected the same rigor in digital asset operations as they would from any regulated financial institution:
- Risk controls
- Auditability
- Disciplined operational processes
- Benefits of digital asset infrastructure such as speed, flexibility, and 24/7 accessibility
These high standards are ultimately what led them to Fireblocks. Alper Uygur, Head of Sales at The Kingdom Bank shared: “We needed a custody and transaction layer that significantly reduced key-management risk, enforced internal governance through structured approval workflows and role-based permissions, and delivered a complete, auditable record of digital asset movement.”
Driving Operational Reliability
Since deploying Fireblocks, The Kingdom Bank has achieved measurable improvements across security, operational performance, and treasury efficiency. In 2025, The Kingdom Bank surpassed €10 billion in total deposits, with approximately 20% linked to crypto-related balances and activity managed through Fireblocks.
The Kingdom Bank uses Fireblocks as their custody and treasury operations layer. Customer crypto is stored in Fireblocks MPC wallets, then routed to their Kraken corporate account for exchange execution. They also manage more than 10 liquidity providers in the Fireblocks dashboard, running settlements and treasury transfers with full approval controls and audit trails. Fireblocks’ MPC-based security architecture has eliminated material key-management loss events and dramatically reduced manual intervention in settlement workflows.
“We replaced fragmented, ad-hoc processes with a governed, auditable framework in Fireblocks, significantly improving settlement success rates and reduced reconciliation time.”
efe gonendir
Sales Team Lead
The Kingdom Bank works with more than 10 liquidity providers, all managed through the Fireblocks Network. By centralizing counterparty data and executing payments through a structured workflow, the bank eliminated friction that normally accompanies multi-counterparty treasury operations. This resulted in faster execution, more predictable settlements, and significantly improved OTC flow management.
Governance and Compliance at Scale
Fireblocks’ Policy Engine transformed The Kingdom Bank’s manual, error-prone processes into an auditable, automated framework with role-based access control, structured approval workflows, and policy-driven transaction limits.
At a scale where billions in digital asset activity are processed, even small reductions in exceptions, rework, or settlement delays translate into meaningful cost efficiencies and significantly improved operational scalability. Fireblocks contributes directly to operational ROI by reducing manual intervention, improving settlement reliability with external counterparties, and providing a clear, auditable transaction framework that strengthens compliance and internal oversight.
“At a scale where billions in digital asset activity are processed, even small reductions in exceptions, rework, or settlement delays translate into meaningful cost efficiencies and significantly improved operational scalability.”
Alper uygur
Head of Sales
What’s Next: Richer Reporting and Tokenization
The Kingdom Bank is investing in stronger workflow automation, richer reporting, and faster reconciliation across a broader set of assets and networks as OTC activities increase.
The bank is exploring Fireblocks’ Tokenization capabilities, having already begun the process of launching Kingdom Coin, an ERC-20 token designed to extend the bank’s digital asset offering to its client ecosystem. Fireblocks’ pre-audited smart contract templates and tokenization engine will underpin this initiative, with MPC protection for smart contract owner wallets and structured roles for mint and burn operations.
“Fireblocks is our strategic partner for achieving these goals because they provide the custody security, governance tooling, and operational environment required to responsibly operate and scale digital asset services for banks.”
Alper uygur
Head of Sales
Read our buyer’s guide for banks and financial institutions to learn more about the key criteria for assessing and integrating digital asset infrastructure into regulated banking environments.
