Fireblocks Partners With Coinbase International Exchange to Expand Trading Features

Twitter icon  •  Published 5 days ago  •  Hassan Maishera

Fireblocks has entered into a strategic partnership with the Coinbase International Exchange, with Fireblocks protecting the exchange’s operations, such as withdrawals and deposits, using its governance and policy rules.

TL;DR

  • Fireblocks now provides MPC protection to customers of Coinbase International Exchange.

  • With this partnership, Coinbase International Exchange users have protection for operations such as withdrawals and deposits.

Fireblocks Partners with Coinbase International Exchange

Cryptocurrency custody firm Fireblocks has entered into a strategic partnership with Coinbase International Exchange, the non-U.S. arm of Coinbase that provides perpetual futures and spot trading features for institutional and retail clients in eligible jurisdictions.

In an announcement on Monday, the companies said thanks to this partnership, Fireblocks customers can now connect to their Coinbase International Exchange account and protect exchange operations. 

Using Fireblocks’ governance and policy rules, users will have protection against the exchange’s operations such as withdrawals and deposits. 

While commenting on this partnership, Usman Naeem, CEO of Coinbase International Exchange, said,

“As we continue to expand our offerings for institutional and retail clients, this collaboration underscores our commitment to providing a robust and reliable trading infrastructure for our global clientele.”

Coinbase International Exchange is the international arm of the Coinbase exchange and received a regulatory license from the Bermuda Monetary Authority to offer its services in May 2023. Although it now offers spot crypto trading services, the exchange first operated as a derivatives exchange for institutions.

Fireblocks leverages cryptographic key sharing technology, Multi-Party Computation (MPC), to eliminate a single point of compromise from API credentials to prevent inside collusion attacks. 

Coinbase International Exchange said traders can now protect themselves against an insider unilaterally moving funds from an exchange account by utilizing Fireblocks’ policy engine to configure user roles, governance policies, and approval workflows for exchange deposit and withdrawal operations. Furthermore, they can deposit, withdraw, and rebalance across the Fireblocks Console or API and keep track of all connected account balances.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.