Digital asset custodian FV Bank has announced a new partnership with Fireblocks as it prepares to introduce its digital asset custody services.
The digital bank, headquartered in San Juan, Puerto Rico, will leverage Fireblocks, a fellow digital asset custody platform, for its unique MPC-based wallet and network infrastructure.
According to a release shared with BeInCrypto, Fireblocks’ infrastructure will integrate seamlessly into FV Bank’s online systems for its international customers’ usage. It is a move that will enable FV Bank to scale, enhance, and add new products to their service offering. Products that FV regards as “unprecedented” in regulated institutions.
FV Bank’s CEO and co-founder, Miles Paschini, explained “It is very important that our offerings take advantage of the industry’s leading digital asset management infrastructure solution as we move to prove banks can compete and lead in the convergence of digital assets management and fiat-based accounts.
“Selecting Fireblocks’ wallet infrastructure gives us a competitive edge, as it will enable us to securely and rapidly deploy a ground-breaking offering from a regulated international bank.
“We also are committed to provide insurance over our clients assets under management,” Mr Paschini went on. “Fireblocks’ secure infrastructure has gained the confidence of insurers, allowing us to offer a bank grade solution to the marketplace.”
Meanwhile, Fireblocks execs also voiced their excitement about the new partnership. Company CEO Michael Shaulov said:
“FV Bank’s integration of the Fireblocks platform brings us a step closer in our effort to enable secure digital asset adoption among traditional financial institutions.”