Timechain, in strategic partnership with Fireblocks, continues pushing boundaries for institutional cryptocurrency adoption.
The institutional interest in crypto currencies has grown strongly through 2021 and 2022. This growing interest in cryptocurrencies creates new opportunities for DeFi service providers such as TimeChain and digital asset management. This Canadian company offers institutional clients a variety of robust trading tools and financial instruments. Timechain’s offerings offer more value than most Canadian crypto service providers. Timechain has a competitive advantage.
Timechain’s TimeChainSwap exchange is another benefit. The exchange facilitates the transfer of support assets between multiple ecosystems or sources of liquidity. The blockchain industry is going to be interoperable in the future.
The integration of Timechain with Fireblocks and its network paves the way for the broader adoption of Timechain’s solutions. OTCs and liquidity providers as well as hedge funds, asset managers, global banks, and large international banks are all Fireblocks network members. The cryptocurrency market is a hot topic among financial institutions today.
“This partnership allows us to offer our customers an ultra-secure product, and will give us the opportunity to scale up our business in the future,” Louis Cléroux, CEO of Timechain. “This is an important step in the growth of our company. We will also be able to continue our efforts to educate the general public about the world of cryptocurrency.”
Timechain now has a network of institutions that are interested in Fireblocks as a partner. Since its launch in 2020, Fireblocks has seen a sixfold rise in the number of participants in their network. Its Network currently has over 400 members, and more are expected to join this network in the near future. All of the participants have access to Timechain for decentralized financial and crypto asset management options.
“We are excited to continue expanding our footprint in Canada, and this integration with Timechain will enable Fireblocks to help secure the assets of Timechain’s customers in the region,” Michael Shaulov (CEO and cofounder of Fireblocks). “By allowing customers the ability to leverage the security of the Fireblocks infrastructure, Timechain will be able to expedite the introduction of new tools while growing the roster of digital assets it can support.”
The mutually beneficial partnership highlights Fireblocks’ approach to securing private keys and API credentials and removing the need for using deposit addresses. Timechain opens the door to expanding the institution reach and providing multiple revenue streams for a growing client list.