Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Industry news
  3. Fireblocks launches Off Exchange
Industry news

Fireblocks launches Off Exchange


30 November 2023 US
Reporter: Klea Neza

Generic business image for news article
Image: nexusby
Fireblocks has announced the launch of its solution, Fireblocks Off Exchange, in an effort to eliminate exchange counterparty risk. Off Exchange enables trading firms and asset managers to trade on centralised exchanges from an on-chain Multi-Party Computation (MPC) shared wallet.

Fireblocks Off Exchange leverages MPC technology to enable traders to allocate and mirror assets directly to an exchange from a wallet they mutually control. This aims to protect their principal from hacks, bankruptcy, and fraud, while providing centralised exchanges with complete on-chain transparency that client accounts are fully collateralised.

Fireblocks Off Exchange takes a technology-first approach, aiming to allow traders to eliminate all forms of exchange counterparty risk by locking funds in secure MPC-based shared wallets.

Michael Shaulov, CEO of Fireblocks, says: “Fireblocks has partnered with the leading institutional firms and exchanges to develop Off Exchange, introducing a fundamental shift in how to simultaneously reduce risk and increase liquidity.”

Melvin Deng, CEO of QCP Capital, comments: “We are pleased to be among the first users of Fireblocks Off Exchange, which mitigates exchange exposure through direct custody. This is another pivotal step forward for the industry towards a secure and capital-efficient derivatives trading ecosystem.”
← Previous industry article

Copper Securities to launch in the UAE
Next industry article →

DTCC’s AIP reaches new milestone
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Liquidity

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →