Key Takeaways:
- Fireblocks partners with Coinbase to offer derivatives and trading products to institutional and retail investors, supporting perpetual futures and spot contracts via Coinbase International Exchange.
- The new trading features are available to users in eligible jurisdictions outside the U.S. and are governed by security risk mitigation policies.
- Fireblocks has launched a custodial service in the U.S., initially covering BTC, ETH, and three stablecoins, with plans to add more assets per NYDFS requirements.
Fireblocks, an infrastructure provider, has expanded its services through a new partnership with Coinbase, allowing it to offer derivatives and trading products to both institutional and retail investors.
As of June 10, Fireblocks now supports trading of perpetual futures and spot contracts via the Coinbase International Exchange, targeting institutional clients such as hedge funds, trading firms, and family offices.
Fireblocks partners with Coinbase International to extend security, governance and policy support https://t.co/a6k2BFGUTk
— The Block (@TheBlock__) June 10, 2024
These new trading features are governed by policies to mitigate security risks and are available to users in eligible jurisdictions outside the United States.
The specific countries served are not detailed by Coinbase International, a Bermuda-based entity.
Additionally, Fireblocks has launched a custodial service in the U.S., focusing on institutional demand for digital assets.
Coinbase International has joined the Fireblocks Network to provide perpetual futures and spot trading features for institutional and retail clients in certain regions.https://t.co/y5Lwl8RmAE
— Cryptonews.com (@cryptonews) June 10, 2024
Initially, this service will cover custody for Bitcoin (BTC), Ether (ETH), and three stablecoins, with more assets to be added per the New York Department of Financial Services (NYDFS) requirements.
Fireblocks has processed over $6 trillion in transactions for more than 200 million wallets globally, serving over 30 exchanges and 55 banks.
Fireblocks, a cryptocurrency custody firm, partners with Coinbase International Exchange, enabling integration of Fireblocks' security features into users' Coinbase International Exchange accounts for enhanced transaction security including withdrawals and deposits. 🔒💼💱…
— BitcoinWorld Media (@ItsBitcoinWorld) June 10, 2024
The ongoing crypto bull market and increasing institutional interest in digital assets are driving Fireblocks’ business expansion and the broader growth of the digital asset market.
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