SINGAPORE, July 18,
2024 /PRNewswire/ -- HTX announces its
integration of Fireblocks Off Exchange, an innovative direct
custody solution that mitigates exchange counterparty risk.
Fireblocks, an enterprise platform to manage digital asset
operations and build innovative businesses on blockchain, launched
Off Exchange to enable trading firms and asset managers to trade on
centralized exchanges from an on-chain multi-party computation
(MPC) shared wallet. The integration of Off Exchange will help
strengthen digital asset security, streamline global compliance
operations, and create a better virtual asset trading experience
for HTX users.
Off Exchange effectively mitigates exchange counterparty risk by
allocating and mirroring assets from a wallet both institutional
traders and exchanges mutually control, leveraging Fireblocks' MPC
technology and on-chain settlement. In the last 90 days, the
Fireblocks Network, upon which Off Exchange was deployed,
facilitated over $200 billion in
transactions between institutional traders and over 30 connected
exchanges.
In March 2023, HTX joined the
Fireblocks Network, an enterprise-grade digital asset transfer
platform for rapid digital asset transactions and dynamic payment
workflows, to facilitate seamless trading on the HTX platform,
leveraging the direct custody solution offered by Fireblocks.
Fireblocks Off Exchange: Battle-Tested Technology and
Real-Time Settlement
Fireblocks Off Exchange sets itself apart from other third-party
custodial solutions by utilizing MPC technology to help traders
mitigate exchange counterparty risk by locking funds in secure
MPC-based shared wallets.
Justin Sun, a member of the HTX
Global Advisory Board, acknowledged the importance of leveraging
Fireblocks, stating, "By working with Fireblocks, HTX will deliver
a more secure trading environment and an enhanced user experience.
HTX is committed to establishing itself as the world's leading
one-stop trading platform, earning the trust of millions of users
worldwide."
Michael Shaulov, CEO and
Co-founder of Fireblocks, said, "Exchanges are increasingly looking
to innovative technology and institutional-grade security to
address the challenges around counterparty risk and to ensure
customer funds are protected. Fireblocks Off Exchange provides HTX
with the ability to monitor and validate client collateral on-chain
and enforce risk management without taking custody, as well as
increases liquidity and maximizes capital efficiency, creating a
more secure digital asset trading environment."
HTX Continues to Elevate User Trading Experience, Paving the
Way for Freedom of Crypto Trading
HTX recognizes the launch of Fireblocks Off Exchange as a
milestone in risk mitigation for over-the-counter (OTC)
transactions in the cryptocurrency market. Adhering to
the "User First" principle, HTX is committed to consistently
reducing trading risks and enhancing the overall trading
experience. By working with Fireblocks, HTX aims to contribute to a
cryptocurrency ecosystem that fosters greater freedom
in trading, while simultaneously decreasing risk and increasing
liquidity. Users from both platforms can seamlessly perform instant
transfers, payments, and other operations directly through their
HTX accounts. This move enhances the platform's global presence and
provides a myriad of investment opportunities for users
worldwide.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange
into a comprehensive ecosystem of blockchain businesses that span
digital asset trading, financial derivatives, wallets, research,
investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global
capabilities that enable it to provide users with safe and reliable
services. Adhering to the growth strategy of "Global Expansion,
Thriving Ecosystem, Wealth Effect, Security & Compliance", HTX
is dedicated to providing quality services and values to virtual
asset enthusiasts worldwide.
Contact Details
EE
glo-media@htx-inc.com
Company Website
https://www.htx.com
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SOURCE HTX