Fireblocks Delivers Instant Fiat-to-Crypto Transfers Across Major Global Currencies with BCB Group Integration
- 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 and London, 6 February 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) – with at least 25 more to be added over the course of the year. 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/
ENDS
Media Contacts
Sam Shrager
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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 free, instant settlements network for the BCB 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 have 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.
BCB’s mission is to connect and bank the global crypto industry.
https://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
Disclaimer
The information contained in this press release is intended for use and publication by journalists and should not be relied upon by private investors or any other persons to make financial decisions. Furthermore, the material contained herein is for informational purposes only and should not be construed as an offer, solicitation of an offer, or an inducement to buy or sell cryptocurrencies or any equivalents either generally or in any jurisdiction where the offer or sale is not permitted. All of the views expressed about the markets, cryptocurrencies and stakeholders in this press comment accurately reflect the personal views of BCB Group. While opinions stated are honestly held, they are not guarantees and should not be relied on. The information or opinions provided should not be taken as specific advice on the merits of any investment decision. This press release may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, new legislation and regulatory actions, competitive and general economic factors and conditions and the occurrence of unexpected events. Past performance in other related cryptocurrencies is not a viable indication of future performance with actual results possibly differing materially from those stated herein. Investments in cryptocurrencies are not currently regulated by the Financial Conduct Authority. Your capital is at risk when investing in cryptocurrencies.
