We are excited to announce that Gate is partnering with Fireblocks, a platform specializing in secure enterprise-grade digital asset trading and storage solutions. As part of the partnership, Gate will integrate with Fireblocks Off Exchange, a digital asset storage solution that eliminates counterparty risk in the digital asset trading process.
Fireblocks Off Exchange leverages MPC technology to enable traders to allocate and mirror assets directly to Gate from a mutually controlled wallet. This new approach protects traders’ principal from all forms of potential exchange counterparty risk. Additionally, it increases liquidity for both parties by eliminating the need to lock funds in a third-party cold storage solution.
Fireblocks Off Exchange uniquely provides Gate with complete transparency to monitor and validate client collateral on-chain and enforce risk management without taking custody of the funds.
Already serving thousands of institutional trading firms on the Fireblocks Network, our integration with Off Exchange will enable these firms to mitigate adverse impacts on funds while maximizing their capital efficiency.
This new partnership is an expansion of our prior integration with Fireblocks Network Link back in September this year, which enabled firms and institutions to securely transfer assets and execute trades anytime with instant connection and settlement using the Fireblocks Network Link infrastructure.
We constantly strive to provide trading services and solutions that reduce risk and enhance security. Strengthening our partnership with Fireblocks and introducing Off Exchange to our platform directly enables us to fulfill our commitment to provide diverse, no-compromise digital asset and blockchain services.
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Gate Team
November 29th, 2023
