Binance.US Selects Fireblocks for Asset Custody and Wallet Management
Date: 2024-09-12 Author: Oliver Abernathy Categories: BUSINESS
Cryptocurrency platform Binance.US has announced that it will use Fireblocks technology for its digital asset management and custody operations.
In a joint statement published with CryptoNews, the companies said that Fireblocks infrastructure solutions will also be used for staking and trading services.
By leveraging Fireblocks wallet technology, Binance.US plans to strengthen the security of its platform, which is claimed to provide the largest on-chain staking service in the United States.
Expanding Staking Services
Binance.US said its customers will continue to benefit from the platform’s spot trading capabilities, with over 150 tokens for trading and over 20 tokens for staking.
Staking is the process by which cryptocurrency holders lock their digital assets on a blockchain network to support its operations, such as validating transactions. In exchange, users can earn rewards in the form of cryptocurrency.
Christopher Blodgett, COO of Binance.US, highlighted the importance of the integration, stating, “As part of our ongoing efforts to improve the exchange infrastructure and enhance the Binance.US user experience, we are excited to integrate Fireblocks to expand our custody offerings and introduce new wallet solutions.”
“Our wallet infrastructure provides the highest levels of security and operational efficiency, which is a perfect fit for Binance.US’s commitment to protecting customer assets,” said Michael Shaulov, CEO of Fireblocks.
Companies Using Fireblocks Infrastructure
Fireblocks’ infrastructure is also used in the crypto space for digital asset custody, transfers, and wallet management for institutional clients. Several major crypto companies and financial institutions use the company’s technology.
In June, international exchange Coinbase joined the Fireblocks network to provide perpetual futures and spot trading services for institutional and retail clients in select regions.
