FDT Adds Fireblocks to Enhance Crypto Asset Security for Asian Market »CryptoNinjas


First Digital Trust (FDT), an Asia-based multi-asset custodian of the world’s largest investment community, BnkToTheFuture, will integrate Fireblocks’ MPC-based digital asset infrastructure to meet increasing demand from fintech companies seeking are to storage solutions in Asia.

As the first custodian in Asia to leverage Fireblocks’ next-generation multi-party computational (MPC) custodial technology, FDT will further strengthen its position as the region’s most trusted custodian, enabling fintechs and new investors to enter the burgeoning space and can participate in it.

Fireblocks’ technology will enable FDT to provide more interoperable custody solutions by enabling fintech clients to instantly send money to various digital asset providers without needing to see a wallet address, thanks to MPC technology from Fireblocks. Fireblocks that eliminates the single point of failure for private keys. This automates the depositing of assets in FDT’s custody structure.

“We’ve been striving to build the most robust and secure asset infrastructure for over 30 years. As institutional investors seek the high yield and anti-inflationary power of digital assets, we believe that the protection of these assets should remain as strong as outdated custody protocols. By partnering with Fireblocks to automate our services and further protect the vaults that shield those assets, we can do this. “
– Gunnar Jaerv, COO of First Digital Trust

The region’s growing interest in digital assets brings with it the need for secure and scalable solutions. In the past, FDT manually performed operational tasks such as portfolio creation – an extremely time-consuming and unscalable process, which left the company unable to tackle ambitious projects to support their growth. Fireblocks have enabled FDT to generate a new wallet in seconds, removing a time-consuming manual activity and allowing FDT to focus on important revenue-generating tasks to grow the business.

Another major concern is the fragility of warm and warm wallets. Fireblocks will enable FDT to provide exchanges with secure wallets that are not vulnerable to attack. By combining MPC-based infrastructure with SGX chip isolation technology, Fireblocks effectively secures digital assets from potential hacks, internal collusion, and human error.

“As early adopters of MPC-based technology in Asia, FDT is setting a new standard for digital asset security, compliance and operational excellence. As a pioneer in digital asset custody in Asia, we are delighted to have FDT on the Fireblocks Network, which directly connects the largest institutional players in Europe and the Americas with one of the largest online investment communities in Asia . “
– Michael Shaulov, CEO of Fireblocks

The Fireblocks platform allows financial institutions to securely execute their trading strategies and operate 24/7, all from one platform. By joining the Fireblocks network, FDT will also be able to provide access to defi, borrow and stake, as well as 200+ trading platforms and 300+ tokens, allowing them to expand their revenue streams from day one.

First Digital Trust is the pioneer in digital asset custody in Asia, launching Asia’s first instant settlement network for institutional investors in 2020 to seamlessly trade assets across the region. The team provides trust and custody solutions for exchanges, OTC desks, investment firms, hedge funds and other professional industry participants. FDT is the digital spin-off of Legacy Trust, the leading licensed and publicly registered trust company in Asia.

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