ZUG, Switzerland, May 7, 2024
/PRNewswire/ -- FinchTrade, a Swiss liquidity provider in the
cryptocurrency sector, is proud to announce its
integration with Fireblocks, an enterprise platform to manage
digital asset operations and build innovative businesses on the
blockchain. This strategic collaboration is set to enhance
FinchTrade's service offering, aligning with industry regulations
and expanding its capabilities in asset custody.
The collaboration with Fireblocks introduces several key
enhancements to FinchTrade's operational framework:
1. Regulatory Compliance: Fireblocks' institutional-grade
technology enables FinchTrade to generate unique blockchain
addresses for each client, a critical feature for Travel Rule
compliance, which mandates the collection and sharing of
transactional information for AML purposes.
2. Direct Custody Advantage: Fireblocks delivers a
specific implementation of self-custody, providing a zero
counterparty risk environment with multiple layers of security,
meaning funds are never stored in an omnibus account or commingled
with any other client funds, therefore eliminating the risks
associated with traditional financial custodians. This approach
elevates the security of client assets under FinchTrade's
management.
3. Expanded Product Offerings: With Fireblocks,
FinchTrade now offers individual client wallets, expanding its
services to include crypto asset custody. This
enhancement allows clients to store assets, execute conversions
between cryptocurrencies and fiat, and make payments —
all from within their FinchTrade account, without the need for
external third-party services.
4. Network Integration: By joining the Fireblocks
Network, FinchTrade gains direct connectivity to a global network
of over 1,800 trusted financial institutions, liquidity partners,
trading venues and counterparties for secure transfers and
payments.
"Collaborating with Fireblocks is a game-changer. It
fortifies our commitment to IT security and enables offering a
diversified service portfolio," said Yuri Berg, Board Member of FinchTrade.
"We're pleased to be working with FinchTrade to offer greater
connectivity and security for their trading platform tailored to
their clients' needs. This collaboration highlights our mutual
dedication to industry-leading security and operational efficiency,
and we look forward to our continued efforts to advance the digital
assets space together," said Stephen
Richardson, Managing Director, Financial Markets at
Fireblocks.
The integration with Fireblocks positions FinchTrade at the
forefront of digital asset security and compliance, ensuring that
the company remains a trusted partner in the evolving world of
cryptocurrency trading.
About FinchTrade:
FinchTrade is a Swiss-based liquidity provider specialising
in cryptocurrency trading solutions. With a commitment
to security, compliance, and innovation, FinchTrade offers seamless
liquidity services to a global clientele.
Photo:
https://mma.prnewswire.com/media/2403507/FinchTrade_Fireblocks.jpg
Logo:
https://mma.prnewswire.com/media/2328998/Finch_Trade__Logo.jpg
View original content to download
multimedia:https://www.prnewswire.com/apac/news-releases/secure-compliant-but-flexible-finchtrade-elevates-crypto-custody-offering-with-fireblocks-302134366.html
SOURCE FinchTrade