--News Direct--
Singapore / March 24, 2023 —Huobi has recently signed a memorandum of understanding (MOU) agreement with Fireblocks, an easy-to-use platform aimed at creating innovative products on the blockchain and managing day-to-day crypto operations. Huobi will go live on the Fireblocks Network, enhancing Huobi’s connectivity and offering institutional investors direct access to global crypto capital markets. Huobi’s institutional clients - who are also Fireblocks customers - may securely connect with the Fireblocks’ Network containing over 1,800 liquidity partners, trading venues, lending desks, counterparties for instant transfers, rebalancing, and payments directly from their Huobi accounts. Huobi and Fireblocks are working towards allowing customers of both platforms to trade on Huobi directly from their Fireblocks-powered self-custody solution.
This integration comes after the FTX crisis, which brought attention to the debate around centralized exchanges' methods for asset custody. Huobi, one of the world's leading exchanges, has already adopted the "Merkle Tree Proof" to ensure transparency of its asset reserves, while reiterating its commitment to user asset security, and ensuring that user' assets are fully redeemable. All these security measures have consistently demonstrated Huobi's commitment to safeguarding user assets.
User asset security is always the top priority to Huobi and the company has been exploring integrated service solutions with "security compliance" at its core to enhance user experience. Huobi has established partnerships to further strengthen its security proposition. Huobi and Fireblocks will provide services for Huobi’s institutional clients and VIP traders, utilizing Fireblocks’ technology to create new over-the-counter trading models and offer more favorable rates. Overall, the collaboration aims to elevate the quality of user experience while achieving top notch security compliance.
Stephen Richardson, Head of APAC and SVP of Financial Markets at Fireblocks, commented: “Centralized exchanges such as Huobi provide the most accessible way for investors to meet diverse trading needs, however this must be tempered with world-class security and risk management in order to ensure users’ digital assets are kept safe at all times without impacting operational efficiency. This is why we are excited to work with Huobi to bring our enterprise-grade, multi-layer security solution to Huobi’s customers, as well as provide instant connectivity to more than 1,800 liquidity partners and trading venues so participants can discover, connect and securely transact with Huobi.”
"Huobi places the security of user assets as a top priority. A leading exchange since 2013, Huobi has maintained an industry-wide reputation for its tight security and product functionality, with no security incidents to date. Operating on cloud servers, Huobi offers a robust disaster recovery capability with high fault tolerance,” states Huobi's management. “Huobi will continue to prioritize user trust and establish relationships with compliance-oriented and high-quality service providers, such as Fireblocks, to strengthen user asset security infrastructure, accelerate its global compliance operations, and create a better virtual asset trading experience for users.”
About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks supports exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves 1,800+ financial institutions, has secured the transfer of over $4 trillion in digital assets and has a unique insurance policy that covers assets in storage and transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. For more information, please visit www.fireblocks.com.
About Huobi
Founded in 2013, Huobi has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation and other businesses. Huobi serves millions of users across international markets.
Contact Details
Huobi PR team
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/huobi-integrates-with-fireblocks-network-to-enhance-connectivity-offering-improved-asset-security-and-an-upgraded-user-experience-838128601
