Timechain, a Canadian registered Money Services Business (MSB) specializing in digital asset management and DeFi services today announced it will join the Fireblocks network to increase its institutional-grade exposure.
Timechain Joins Fireblocks Network
In an announcement made today, Timechain stated it is poised to join the Fireblocks network.
For the uninitiated, Fireblocks is an enterprise-grade platform that offers a secure infrastructure for moving, storing, and issuing crypto assets.
Timechain offers more robust trading and financial tools compared to other Canadian cryptocurrency service providers. Further, the platform’s TimeChainSwap distributed exchange aggregator brings together the liquidity across multiple networks and ecosystems and offers a highly sought-after feature of interoperability.
Timechain’s integration with Fireblocks means it will now be able to expand its reach to hundreds of institutional network participants. Some of these institutional partners are leading global banks, OTCs, asset managers, liquidity providers, and hedge funds.
Commenting on the development, Louis Cléroux, CEO of Timechain, said:
“This partnership allows us to offer our customers an ultra-secure product, and will give us the opportunity to scale up our business in the future. This is an important step in the growth of our company. We will also be able to continue our efforts to educate the general public about the world of cryptocurrency.”
Significant Growth for Fireblocks
Since its launch in mid-2020, Fireblocks has conquered a wide array of milestones. Fireblocks has witnessed a six-fold rise in network participation that helped push the network’s participants to more than 400.
Moreover, Timechain’s integration with Fireblocks introduces novel means to access DeFi solutions and options for digital asset management.
Michael Shaulov, CEO and co-founder of Fireblocks said:
“We are excited to continue expanding our footprint in Canada, and this integration with Timechain will enable Fireblocks to help secure the assets of Timechain’s customers in the region. By allowing customers the ability to leverage the security of the Fireblocks infrastructure, Timechain will be able to expedite the introduction of new tools while growing the roster of digital assets it can support.”
A leading digital asset and security platform in the blockchain and cryptocurrency industry, Fireblocks is committed to helping institutional clients by safeguarding their digital assets by securing private keys, API credentials and removing the need for deposit addresses.
The partnership with Fireblocks also gives Timechain an opportunity to expand its institutional reach. Timechain’s innovative solutions introduce several new revenue streams, such as TimechainSwap rewards, DeFi, and NFTs, among others.