Fireblocks builds on its multi-party computational technology to create a Secure Asset Transfer Network, allowing institutions to quickly and securely find, connect and transact.
Institutional digital asset security specialist Fireblocks launched its Asset Transfer Network on June 2.
The open network enables institutions to securely find and connect with their peers, to transfer assets on-chain while streamlining settlement and post-trade operations.
Over 55 institutions and 26 exchanges are active on the network at launch, including liquidity providers, exchanges, brokers, market makers and custodians.
More of the same, but better
For over a year now, Fireblocks has been employing multi-party computation or MPC technology in its Secure Asset Transfer Environment, providing institutional clients with the tools to move digital assets between exchanges, wallets and counterparties.
Volumes rapidly grew as more institutions came on board to take advantage of the secure platform, which features an insurance policy covering assets both while in storage and in transit.
The company also developed a new MPC algorithm, claimed to be 800% faster than the industry standard, and made it free to use for assets custodians and vendors.
The newly launched Secure Asset Transfer Network builds on this environment, further streamlining the process of finding and connecting with counterparties.
New search functionalities
Previously, two counterparties both using Fireblocks had to find and add each other’s wallet addresses manually to connect.