BloFin Integrates Fireblocks Cold Wallets for Asset Security
Date: 2024-10-25 Author: Oliver Abernathy Categories: BUSINESS
This partnership with Fireblocks provides BloFin with robust asset protection, simplifies cold wallet management, and facilitates fast and secure movement of funds. BloFin representatives emphasized that such solutions are necessary to effectively meet the needs of users in the dynamic cryptocurrency market. The Fireblocks infrastructure allows the exchange to not only provide a high level of security, but also to remain at the forefront of the industry, especially when it comes to storing and transferring significant volumes of digital assets.
In addition, in October of this year, BloFin implemented updates to optimize trading processes. The In-memory Processing system, along with the Raft Consensus Algorithm, ensures consistently high performance in order execution, which allows the exchange to successfully cope with increased loads during periods of peak demand.
BloFin is one of the leading centralized crypto exchanges, supporting over 350 perpetual contracts and 250 trading pairs for spot trades. The platform also offers users copy trading and demo trading capabilities, making it a versatile tool for different categories of traders. In order to comply with international AML/KYC requirements, BloFin has partnered with Chainalysis, which confirms the platform’s commitment to transparency and security of operations.
Fireblocks, on the other hand, provides solutions in the field of crypto custody services and is focused on serving institutional clients, including large financial and payment companies. Since early 2024, Fireblocks has been participating in BlackRock’s tokenization project, which underlines its commitment to innovating and expanding the use of digital assets in the financial sector.
This integration with Fireblocks, along with platform updates, allows BloFin to strengthen its infrastructure and stay one step ahead of the competition, offering clients cutting-edge solutions for safe and convenient storage and exchange of cryptocurrencies.
