Fireblocks, a blockchain-based enterprise platform for crypto custody, expands its cloud support to serve banks globally.
Its latest announcement sees partnerships with Amazon Web Services (AWS), Google Cloud Platform (GCP) and Alibaba Cloud.
Summary
Fireblocks: the crypto custody provider targets banks by supporting the cloud from AWS, GCP and Alibaba Cloud
The enterprise platform for managing digital asset operations and building innovative businesses on the blockchain, Fireblocks, has announced its expansion.
This involves its support for hardware security models (HSMs) and cloud service providers from Amazon Web Services (AWS), Google Cloud Platform (GCP), Alibaba Cloud, Thales and Securosys.
With this move, the crypto infrastructure provider aims to serve 100% of all banks and financial institutions globally.
And indeed, banks are increasingly opting to use the cloud, although still in a fragmented way. Some are using the private cloud, some the public cloud, while for the others, the cloud remains the home.
In this regard, Fireblocks’ idea is to make its MPC portfolio solution compatible and scalable for every bank and institution through its support of cloud giants.
To give a few examples of what is happening, Capital One is using AWS, while Morgan Stanley is working with Microsoft.
Bank of America has been saving $2 billion a year by partially building its own cloud.
Finally, Goldman said in November that it would partner with Amazon Web Services to give customers access to mountains of financial data and analytical tools. Deutsche Bank has entered into a 10-year partnership with Google.
Fireblocks: the crypto infrastructure serving banks excels in the cloud sector
With new support for AWS, GPC and Alibaba Cloud, Fireblocks is covering most of the market share of the cloud sector.
Not only that, so far Fireblocks has already enabled 50 of the world’s largest banks to create services for custody, trading, clearing, and settlement of digital assets, tokenization of financial products such as tokenized fiat, central bank digital currencies (CBDCs), carbon credits, and more.
These include BNY Mellon, BNP Paribas, and Australia’s ANZ Bank, to which the company’s platform has provided infrastructure support. Its clients also include Robinhood and the fintech company Revolut.
In this regard, Michael Shaulov, co-founder and CEO of Fireblocks said:
“From the very beginning, the Fireblocks platform was created and designed to be business-first. We understand the risk requirements in the bank at an architectural level and we have strategically developed components to make sure that our customers can get from proof-of-concept to production in the shortest timeframe possible.
In the last three years, Fireblocks has been working with some of the most well-known banks and financial institutions at the cutting edge of the digital asset and crypto industry.
To date, we’ve successfully brought 50 banks into the digital asset space, so we’re excited to be able to further our commitment to this segment by providing the right infrastructure support for any bank or financial institution to bring their digital asset offering to market.”
Google Cloud and the partnership with Polygon
Remaining on the topic of cloud and blockchain, last April Google Cloud and Polygon Labs had announced their multi-year partnership to accelerate the adoption of blockchain technology within companies.
This is a service to support developers who will receive enterprise tools and infrastructure on which to use Polygon’s protocols.
And indeed, Ethereum’s Layer 2 has already developed over the years a suite of protocols that enable scaling solutions, such as rollups, sidechains, hybrid chains, enterprise chains, etc.
On the other hand, there is Google Cloud, which offers its own suite of enterprise solutions to accelerate the ability of organizations to digitally transform their business.
With this partnership, Polygon Labs and Google Cloud are planning joint engineering and go-to-market initiatives to make it easier for companies to create their own Web3 and dApp products.
