Blockchain
DIFX Cross Asset Digital Exchange grows to 550 million USD in assets under Management with FireBlocks
Digital Financial Exchange (DIFX), a centralized cross-asset digital exchange, grows its assets under management from 5 million USD to 550 million USD after integration with award-winning digital asset and crypto technology platform, Fireblocks.
Jeetu Kataria CEO of DIFX states, “I knew since our launch in 2020 that choosing the right crypto custody infrastructure partner was essential to our success and that achieving a strong return on investment was critical for our new trading platform. With Fireblocks, our team can focus on serving clients instead of manually managing digital assets.”
Thousands of crypto businesses use Fireblocks’ platform to access DeFi and Web3 applications and leverage the company’s suite of tools for securing custody of funds, managing their crypto and digital asset operations, tokenizing assets and building new Web3-compatible products and services.
In 2020, Fireblocks launched MPC-CMP, an open and free-to-use MPC protocol to improve the transaction speed for secure digital asset transfer by 800%.
After three months of intense research, DIFX chose Fireblocks because it was the only end-to-end solution that offered a secure direct custody technology alongside tools for increasing trading efficiency and automating operational processes and policy workflows. For example, the Ethereum Gas station utilized by DIFX sets gas fee limits by automating and batching ETH transactions to minimize fees and manual refuelling.
Furthermore, both the DIFX Spot exchange and MT5 platform leverage Fireblock’s direct custody technology to ensure the safety and security of both traditional and digital assets. The implementation serves as an additional bridge in connecting the digital and traditional assets as per the mission of DIFX and gives that extra layer of security desired by millions of traders across the globe.
The results speak for themselves. Since rolling out Fireblocks, DIFX has scaled at a remarkable rate. As Kataria explains, “We grew from 5 million USD assets in custody in 2020 to 550 million assets in custody today after rolling out Fireblocks in Spring of 2021. This is an increase of 10,900 per cent. In addition, we are saving around 100,000 USD per year in operational expenses using Fireblock’s policy engine and authorization workflows and 40,000 USD yearly in ERC-20 gas fees.” DIFX noted that many clients prefer to transact on DIFX because it is secured by Fireblocks MPC Wallet.
Michael Shaulov, CEO and Co-Founder, of Fireblocks, said, “We are always pleased to see clients such as DIFX benefit and grow from the products and services we offer. At the end of the day, we strive to provide clients like DIFX with the flexibility to adapt and scale their businesses and enable them to easily and securely bring digital asset products to market. We look forward to working alongside DIFX as they continue to adapt and innovate in this fast-paced industry.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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