BlockQuake Exchange, which focuses on regulatory compliance, is collaborating with the Fireblocks Network. The regulatory compliance-focused digital asset exchange said it will use technology from Fidelity-backed Fireblocks to secure itself.
BlockQuake is hopeful that the integration of Fireblocks’ wallet infrastructure will enhance customers’ access to their funds as well as withdrawal. The exchange will likewise enjoy access to the Fireblocks Network for interaction with several financial institutions and exchanges.
BlockQuake is interested in offering fiat on-ramps in six currencies to users from over 140 countries. It plans to have fourteen cryptocurrency and stablecoin trading pairs at launch. It wants to accept corporate and retirement accounts on the platform to improve institutional investors’ accessibility.
BlockQuake has applied for a New York state BitLicense and it is waiting for approval. Fireblocks offers security for the transportation and storage of digital assets through a wallet that is waiting to be patented. It secures digital assets transfer between several financial institutions and exchanges through a private layer on its network.
According to Fireblocks’ claims, it has been able to secure transfer of digital assets worth over $30 billion since it was established in June 2019. Fireblocks also insures all digital asset storage and transfers on its network.
Fireblocks shared a press release with Decrypt which says BlockQuake’s integration of Fireblocks will ensure sustainable scaling of its operations by the time it launches. Michael Shaulov, CEO and co-founder of Fireblocks said “with Fireblocks’ level of speed and security, BlockQuake will have a competitive advantage when it comes to delivering the fastest and most secure trades.”
Fireblocks was able to raise $16 million in Series A funding round last year and it included Eight Roads, the proprietary investment arm of Fidelity International.