One of the largest cryptocurrency liquidity providers, B2C2, announced it has partnered with Fireblocks, an institutional platform that helps keep coins secure when they’re transferred between exchanges.
London-based startup B2C2 is using Fireblocks to safeguard digital assets worth billions and to secure in excess of 10,000 OTC (over the counter) trades each day, valued at $600 million.
Working together, B2C2 and Fireblocks are looking into new and creative ways to facilitate and protect the flow of cryptocurrency liquidity across the globe.
Robert Catalanello, CEO of B2C2 US, had this to say about the new partnership:
“We’ve smashed our bottleneck thanks to the security and speed we’ve been able to achieve with Fireblocks’ Secure Transfer Environment.”
The next step, according to Catalanello, is to eliminate all the credit congestion downstream for B2C2 USERS, in addition to onboarding users into the Fireblocks ecosystem to mitigate operational risks from the settlement process.
With the rise of thefts in the crypto space, there had been a significant focus on services for law enforcement agencies to track stolen digital assets while also tracking ransomware and analyzing “darknets.”
Fireblocks Revolutionizing How OTC Desks Move Funds
Fireblocks, which is headquartered in NYC and backed by investment powerhouse Fidelity, move $2.5 billion quickly and securely between exchanges each day.
The startup is playing a major role in how the main digital coins are kept secure as they are swapped from one exchange to another, avoiding the need for the trader to sign in on multiple platforms.
Fireblocks is now offering its users more coverage across the crypto space, adding five new exchanges to its list of clients, which now brings the total tally of crypto exchanges it supports to 22.
The newly supported crypto exchanges include South-Korean based Bithumb and Korbit, OKEx along with its strategic partner OKCoin, and HitBTC, which is headquartered in Hong Kong.
Tim Byun, CEO of OKCoin, said, in a statement, that the service would provide critical protection for millions of traders around the globe.
More Achievements For Fireblocks
A month after launch, Fireblocks announced a $16 million Series A funding round with investors, including Eight Roads – the investment arm of Fidelity International.
On December 19, 2019, the startup passed an EY audit confirming it complies with industry data security standards. EY’s audit concluded that Fireblocks either met or surpassed the SOC 2 Type II standards.