Fireblocks, a leading provider of institutional-grade digital asset securities services, has announced the launch of its own non-custodial wallet. This new offering is aimed at Fintechs and corporate customers with an interest in Web3, and it complements Fireblocks’ existing custody solution.
The motivation behind this move is the growing demand from customers for greater control over their assets, particularly following the recent FTX debacle. In addition, the complex nature of compliance and security requirements means that developing an in-house solution may not be the most practical option for many firms.
Michael Shaulov, co-founder and CEO of Fireblocks, emphasized that their solution is designed to reduce counterparty risk throughout the digital asset ecosystem. The non-custodial wallets use MPC-CMP technology, which operates in a secure hardware-based environment. This technology ensures that users have complete control over their wallets, while simultaneously safeguarding against both internal and external threats to the private key.
Fireblocks has already garnered support for its non-custodial wallet from clients such as Flipkart Labs. Ravi Krishnan, Head of Flipkart Labs, praised Fireblocks for simplifying Web3 onboarding for users and embedding wallets within the Flipkart mobile app.
Notably, Fireblocks currently secures over 130 million wallets for various prominent B2C and B2B Web3, fintech, brands, financial institutions, corporates, and crypto companies. Some of these clients include BNY Mellon, BNP Paribas, NAB, Flipkart, eToro, Revolut, NuBank, Wisdom Tree, Animoca Brands, MoonPay, Mythical Games, Wirex, Yellowcard, and Ava Labs.
By offering its own non-custodial wallet, Fireblocks aims to provide a seamless and secure solution for customers looking to manage their digital assets independently, all while strengthening its position as a trusted provider of institutional-grade services within the rapidly evolving Web3 ecosystem.
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