Soft-FX Introduces FireBlocks custodial service integration to their Digital Asset Trading Platform

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Soft-FX Introduces FireBlocks custodial service integration to their Digital Asset Trading Platform

human error

It has been a difficult for everyone and we truly appreciate your patience. This is the follow-up announcement from our first statement regarding the failure of Fireblocks to secure the cryptographic keys of 38,178 of our Ethereum tokens. Soft-FX continues to add new integrations to provide its customers with the most secure operating environment possible. We are happy to announce that FireBlocks service is now also available for our trading solutions. CoinStats is a free cryptocurrency portfolio management and DeFi wallet app. CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions.

hedge funds

For clients using Ethereum ERC-20 tokens, Fireblocks provides an Ethereum Gas Station to maximise operational efficiency with automated refueling and pre-set caps. As mentioned, security is the main priority when it comes to digital assets and currency. In the newly established, little-regulated space, businesses, individuals, and financial institutions need to have the most robust security available to them. This integration of Fireblocks to the NEAR ecosystem is a massive leap forward towards the adoption and trading of $NEAR by financial institutions as well as businesses. It will allow institutional users to now access the NEAR Protocol’s fast and low-cost sharded proof-of-stake blockchain safely and securely. Hundreds of businesses use Fireblocks to maintain the security of funds, manage their treasuries, access trusted DeFi protocols, manage their tokenomics, and any other digital asset back-end operation.

Read on for more details on what Fireblocks is, how it integrates with Midas and why it will supercharge our growth. Partnering with Fireblocks has enabled us to bring our vision to life, giving Escrypto users, whether they’re individuals or businesses, an MPC crypto wallet they can easily introduce into their existing processes. Impressively, Escrypto and Fireblock support over 1,100 tokens across 30 blockchains.

Lossless Funding of NEAR Projects by Financial Institutions & Businesses

In digital assets and has a unique insurance policy that covers assets in storage & transit. Some of the biggest trading desks have switched to Fireblocks because it's the only solution that CISOs and Ops Teams both love. The ERC-3643 smart contracts embed a digital identity system to truly enforce compliance, since eligibility checks are identity-based rather than wallet address-based. By automating compliance, peer-to-peer transfers can be enabled, improving asset transferability and eventually driving liquidity. Moreover, the ownership of permissioned tokens is guaranteed, since ERC-3643-based tokens are directly linked to the digital identity of their owners, even allowing token recovery. Fireblocks is a custody facility provider trusted by more than 1,300 banks, hedge funds, and financial institutions, and to date has ensured the safe transfer of more than $3 trillion.


https://www.beaxy.com/ transaction fees are one of the most talked about issues with digital wallets. However, with Fireblocks and Escrpyto, we’re able to reduce these costs by 90%. Now, wallet users can send and receive transactions at scale without overwhelming operating costs.


The participation of financial institutions and business to the liquid staking of $NEAR via Meta Pool will strongly and durably re-enforce the decentralization and censorship of NEAR protocol. Fireblocks automatically screens transactions against pre-defined risk policies created by a compliance team. Depending on whether a transaction is deemed high or low-risk, Fireblocks clears, rejects/freezes, or escalates to a manual compliance check. With Fireblocks API, it is possible to automate deposit and withdrawal screening, freeze funds, and generate audit logs for regulators.


What’s more, when the key needs to be used, MPC tech choreographs the authorization without the people involved knowing anything about the computation other than their own little coded part. This also stops any of the parties involved from running off with everything and buying themselves a bunch of Ferraris. Before MPC tech, private keys were stored in a single location with a wallet owner having to rely on trust that these locations were secure.

Web3 Wallets

Platform-Icon Web3 Build the next generation of NFT, GameFi, and DeFi products. Platform-Icon DeFi Access DeFi apps with enterprise-grade protection and fully customizable governance & policy control.

Fireblocks is much more than a wallet – it’s a hub for lending, liquidity provision, trade settlement, and transfer. Through the Fireblocks platform, institutions can connect to over 30 exchanges – making it one of the most liquid platforms available. As you can imagine, this is imperative for institutions that move large amounts of funds . Tokenized securities, however, must be minted as permissioned tokens as these tokens should only allow eligible participants to become holders to comply with securities regulations. The open-source ERC-3643 smart contract is designed for this purpose, performing compliance checks at token levels to ensure that transfers only occur if both investor rules and offering rules are met. By tokenizing securities, issuers can automate compliance and operation processes, allowing them to largely reduce costs.

Add PoS Network to Metamask

MPC technology, however, allows keys to be broken up into coded parts and then shared with a group of people. These people can then perform calculations independently of each other, producing authorization without ever revealing their part of the code to anybody else. As a result, instead of private keys existing in one place, they’re perpetually fragmented across the blockchain — and good luck trying to hack that.

Platform Updates Fireblocks Expands Non-EVM DeFi Access with ... - Fireblocks

Platform Updates Fireblocks Expands Non-EVM DeFi Access with ....

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Fireblocks is a platform that protects digital assets in transit, focusing on protecting the transmission of customers' digital assets between exchanges, counter brokers, hot wallets, and cold stores. When working with digital assets or crypto, it can be difficult to know how many organizations and teams have access to your private keys... Day-to-day crypto and digital asset operations is one of the most important and business-critical functions for any company working with digital assets – whether...

With users able to keep their digital assets online without having to resort to tedious cold-storage solutions. Fireblocks offers an all-in-platform, designed to provide businesses with several additional features beyond just crypto custody. These include 24/7 on-chain settlement, wallet infrastructure that is 8x faster than average, quick and easy asset tokenization, and a deposit acceleration program.

As such, we scored fireblocks blog-plugin-fireblocks popularity level to be Limited. You might want to approach us to sell your stTokens in exchange for native tokens, to which we might agree subject to availability and in accordance with our terms and conditions. Fireblocks has a unique insurance policy that covers assets in storage & transit and offers 24/7 global support.

All security vulnerabilities belong to production dependencies of direct and indirect packages. We have been deeply touched by the support of our community and partners during what have been difficult and unprecedented events. We will also discontinue the distribution of staking rewards, except for stETH, starting on the 2nd of August 2021. The purchase of native tokens in exchange for staked tokens, with immediate effect. This will allow us to devote our full attention to the recovery of the loss. In February 2022 Meta Pool has been successfully audited by BlockSec, confirming the implementation of the highest security standards.

This eliminates a single point of failure and insulates digital assets from cyber-attacks, internal collusion, and human error. Fireblocks' MPC-CMP algorithm helps you meet client SLAs regardless of your wallet configuration. Send and receive transactions at scale without massive operating costs. The Fireblocks platform supports growing demand from the world’s leading banks and traditional FIs who have turned their attention to digital assets on RSK and other blockchain networks. As digital currencies continue to penetrate the world of mainstream finance, custody is becoming a critical element of the industry.

insulates digital assets

In explanation, an MPC crypto wallet sounds greatly complex, difficult to create, and confusing to access. Thanks to Fireblocks, and their user-friendly MPC technology, we’ve been able to create the most secure crypto wallets that both individuals and businesses can benefit from. Gained a lot of experience in the financial sector with various senior positions at DWS Investments and also as Head of Asia Equity at Pimco or Managing Director at Smartkarma. Last he started as the Head of Sales & Strategic Business Development of Fireblocks, a platform for financial institutions that need to streamline digital asset operations. Founded in 2018 by three ex-employees of popular cybersecurity firm Checkpoint, Fireblocks now provides LTC crypto custody to over 230 clients worldwide. With offices in the US, UK, Hong Kong, Israel, Singapore, Switzerland, France, and Germany, the company has processed over $815 billion in digital asset transfers since its inception.

Further analysis of the maintenance status of insomnia-plugin-fireblocks based on released npm versions cadence, the repository activity, and other data points determined that its maintenance is Inactive. To mitigate these risks, Fireblocks offers solutions delivering the required enterprise-level security, efficiency, and scalability. Please, note that all staked ETH are locked in the ETH2.0 staking contract for the time being and the possibility to sell stTokens does not apply to stETH.

Fireblocks serves over 1,000 financial institutions and has secured over $2 trillion in digital assets. More than 750 digital asset businesses use Fireblocks software and APIs to custody, manage treasury operations, access DeFi, mint & burn tokens, and manage their digital asset operations. If a counterparty holds custody of your crypto or digital assets, there is no replacement for due diligence in terms of risk management, security...

Fireblocks has become the first company in the world to achieve a Cryptocurrency Security Standard Qualified Service Provider Level 3 certification by the... Sign up for the Fireblocks Newsletter — a weekly roundup of new platform features and the latest from the industry. Hedge Funds Meet fiduciary duty without jeopardizing operational efficiency. Market Makers / Prop Traders Boost operational efficiency and drive balance sheet optimization. OTC / Brokerage Transform settlement operations and strengthen security. Platform-Icon Payments Launch new merchant services with the newest payment suite from Fireblocks.

  • We will also discontinue the distribution of staking rewards, except for stETH, starting on the 2nd of August 2021.
  • The contents of the site do not constitute financial advice and are provided solely for informational purposes without taking into account your personal objectives, financial situation or needs.
  • Banks need streamlined, secure, private execution and settlement connectivity.

Fireblock’s has been recognized by Microsoft as a Security Trailblazer with a nomination for it’s 20/20 award. The firm was also listed on Forbes’ Fintech 50 list for 2020 as one of the most innovative companies in its industry. Midas can also utilize the rebalancing feature to easily manage our YAP strategies. Fireblocks makes it easy to automate these processes, along with managing and maintaining user balances. Those who prefer unlimited control may opt for permanent on-site installation, whereas those who need a system that works for them with minimal input would choose Saas. Well, the flexibility of this incredible system allows for all types of implementation, enabling Escrpyto and Fireblocks to fit into your operations, not the other way around.

In short, a series of errors by Fireblocks caused the loss of 2 keys that are part of the 3-of-4 threshold signature for the shards that form the withdrawal key. Fireblocks did not generate their private keys in a production environment, did not include the private keys required to decrypt their 2 key shares in the backup, and lost both keys. With a TVL of ~9 Million $NEAR and growing, Meta Pool has become in just a few months a cornerstone element of the NEAR ecosystem. Meta Pool is making NEAR Protocol more decentralized and therefore more secure. We are looking forward to seeing new funding and growth opportunities for projects launching on NEAR protocol.

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It’s a neat trick that’s built around a concept known as Zero-Knowledge Proof and is central to blockchain security. We found indications that insomnia-plugin-fireblocks is an Inactive project. See the full package health analysisto learn more about the package maintenance status.

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