- Fireblocks and BCB Group customers can now leverage the integration with BLINC to quickly fund their exchange accounts and move fiat 24/7 between trading venues and counterparties
- The BLINC network enables institutions to settle and clear instantly with zero transaction fees, creating greater efficiencies with domestic and international fiat transactions
NEW YORK – February 6 2024 – Fireblocks (https://www.fireblocks.com), an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain, announced today the expansion of its fiat support on the Fireblocks Network to include 5 of the most highly-transacted global fiat currencies initially – Euro (EUR), Swiss Franc (CHF), British Pound (GBP), Singapore Dollar (SGD), and Japanese Yen (JPY) – BCB Group intends to add at least 25 more currencies to its BLINC network over the course of the year that will be supported by the integration with Fireblocks.
The integration of BCB Group’s BLINC into the Fireblocks Network enables payment companies and institutional trading firms to instantly and securely transfer fiat with over 1,800 counterparties on the Network. Transactions can now be cleared in real-time while reducing the operational and settlement risks that occur when trading between crypto and fiat currencies.
“Integrating with BCB Group will greatly expand the fiat on- and off-ramps for businesses using Fireblocks by removing friction and allowing organizations globally to build localized products and services for millions of consumers,” said Ran Goldi, SVP Payments and Network at Fireblocks.
Fiat on- and off-ramps are crucial for liquidity to allow payment companies and crypto investors to easily enter and exit their positions without experiencing price volatility. While centralized crypto exchanges often act as the go-to on- and off-ramp platforms, crypto-to-fiat bridges are becoming more popular as the ability to seamlessly move assets between the digital asset and traditional financial ecosystems increases in demand.
“This partnership powerfully signals the commitment that both BCB Group and Fireblocks have made to build durable bridges between traditional financial institutions and the digital asset space – two global financial systems that must harmonize for progress to be made,” said BCB Group co-founder and CEO, Oliver Tonkin. “Not only will this integration help bring new liquidity into the crypto capital markets with extreme efficiency, but it will also spur innovation in any business that touches digital commerce.”
Now, international businesses will be able to select BCB Group as their fiat currency payment method and begin tapping into more than 1,800 counterparties through the Fireblocks Network.
For more information, please visit: https://www.fireblocks.com/platforms/fireblocks-network/
About BCB Group
BCB Group is a leading crypto-dedicated payment services provider, serving many of the industry’s largest clients including Bitstamp, Crypto.com, Fireblocks, Galaxy, Gemini, and Kraken. BCB Group provides payment services in over 30 currencies, FX, cryptocurrency liquidity, digital asset custody, and BLINC, which is BCB’s instant settlements network for the BCB Group client ecosystem.
Responding to corporate and institutional demand for essential and excellent infrastructure in digital asset markets, BCB Group was created by established thought leaders in finance, regulation and technology. Founded in the UK and developed to encompass key relationships across global financial services communities, BCB Group is well positioned as one of the first multi-jurisdictional regulated cryptocurrency service firms. BCB Group’s leadership executive team has worked for Barclays, Bitstamp, Coinbase, Credit Suisse, Deutsche Bank, FIS, Goldman Sachs, JP Morgan, Investec, Lloyds Commercial Bank, Luno, Norton Rose Fulbright, FIS, and Sun Life of Canada. For more information, please visit www.bcbgroup.com.About Fireblocks
Fireblocks, Ltd. is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks Ltd., operating from Tel Aviv, serves thousands of financial institutions, has secured the transfer of over $4 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com.