News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Cryptocurrency

Fireblocks trials crypto tech to help tradfi firms avoid another FTX

After FTX, institutions ‘no longer want to leave assets on exchange’, custody platform says, as it launches new tool to safeguard funds

The world's most valuable crypto infrastructure firm hopes new technology can lower counterparty risk
The world's most valuable crypto infrastructure firm hopes new technology can lower counterparty risk Photo: Rafael Henrique/Getty Images

Crypto technology firm Fireblocks is gearing up to launch a new platform to help traditional finance firms guard against collapses like FTX's.

The company, whose clients include BNY Mellon and BNP Paribas, said the “off-exchange” product will act as an intermediary, letting firms keep cryptoassets in custody while trading. The assets only move post-trade for settlement.

WSJ Logo