Cryptocurrency News

Timechain Joins The Fireblocks Network To Push Institutional Adoption of DeFi And Crypto Higher

Timechain continues to push the boundaries of institutional cryptocurrency adoption through a strategic partnership with the Fireblocks network.

Institutional interest in cryptocurrencies has risen strongly throughout 2021 and early 2022. That growing demand for exposure creates opportunities for digital asset management and DeFi service providers like TimeChain. The Canadian firm provides various robust trading and financial tools for institutional clients to explore. Moreover, its offerings are of a higher level than other Canadian crypto service providers, giving Timechain a solid competitive edge.

Another benefit of the Timechain ecosystem is its TimeChainSwap distributed exchange. It facilitates conversion between supported assets and sources of liquidity from multiple blockchains and ecosystems. Interoperability is a crucial aspect of the blockchain industry today and in the future.

The integration of Timechain with Fireblocks and its network paves the way for the broader adoption of Timechain’s solutions. Fireblocks network participants include OTCs, liquidity providers, hedge funds, asset managers, and major global banks. Financial institutions pay close attention to the cryptocurrency industry today.

“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,” said Louis Cléroux, CEO of Timechain. “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.”

The choice to partner with Fireblocks brings Timechain to a growing network of institutional participants. Fireblocks, launched in mid-2020, notes a six-fold increase in network participation since then. Moreover, its Network now spans over 400 participants, with more looking to become part of this ecosystem in the foreseeable future. Through Timechain, all of these participants can explore decentralized finance and crypto asset management solutions.

“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,” said Michael Shaulov, CEO and co-founder of Fireblocks. “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.”

The mutually beneficial partnership highlights Fireblocks’ approach to securing private keys and API credentials and removing the need for using deposit addresses. Timechain paves the way for increasing the institutional reach and bringing numerous revenue streams to a growing client base.

 

 

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