Archax also using Fireblocks Network, which has secured over $6 trillion in digital assets
28 May, 2024 – Archax, the first FCA-regulated digital asset exchange, broker and custodian, today announced it has expanded its custody service by integrating Fireblocks, an enterprise platform for building blockchain applications and managing digital asset operations, and is using the Fireblocks Network, an enterprise-grade digital asset transfer platform for rapid digital asset transactions and dynamic payment workflows.
The integration enables Archax to effectively manage its day-to-day treasury operations and leverages Fireblocks’ enterprise-grade multi-layer security to further safeguard customer funds. The Fireblocks Network also enables Archax to extend the reach of its products and services suite, particularly its crypto OTC and exchange offerings, and the number of crypto trading pairs supported.
At the heart of the Archax digital asset ecosystem is its custody service, allowing customers to hold traditional financial markets assets, alongside unregulated cryptocurrencies and regulated tokenised assets. This service powers and sits behind Archax’s other core services, including its tokenisation engine, which tokenises money market funds and other Real World Assets (RWAs); its exchange, which offers trading in crypto pairs alongside regulated digital securities; its suite of structured products, which includes capital protected notes and ETPs/ETFs/ETNs; and its OTC crypto trading desk.
Graham Rodford, CEO and co-founder of Archax, comments: “As a custodian that handles both regulated and unregulated digital assets, it is vital that we work with the best technology providers for our products and services. By leveraging Fireblocks, alongside our existing technology partner Metaco (now Ripple Custody) for custody, we are extending the reach of all of our digital asset services. Working with leading custody technology providers provides our customers with greater choice, which is a key part of the Archax strategy.”
Fireblocks is an enterprise-grade platform for moving, storing, and issuing digital assets, having secured the transfer of over $6 trillion in digital assets to date. Its multi-layer security matrix layers Multi-Party Computation (MPC) technology, Intel SGX, its signature Policy Engine, and a deposit address authentication network to deliver the most impenetrable system on the market.
Stephen Richardson, Managing Director, Financial Markets at Fireblocks, adds: “Fireblocks’ powerful digital asset treasury management provides Archax with the operational flexibility to meet governance and risk requirements, as well as provides direct connectivity to the digital asset trading ecosystem via the Fireblocks Network. We look forward to further supporting Archax as it pioneers the future of blockchain-based markets.”
About Archax
Archax is a global, regulated, digital asset exchange, brokerage and custodian based in London. Founded by experts from the financial markets world and backed by an accomplished advisory board, Archax offers a credible bridge between the blockchain-centric crypto community and the traditional investment space.
Archax is the first-ever firm to receive FCA regulation as a digital securities exchange, custodian and brokerage. It was also the first firm to be listed on the FCA's Cryptoasset Register as a VASP (Virtual Asset Service Provider).
Archax has been designed specifically for institutional investors to trade in all types of digital assets, from cryptocurrencies to digital securities. It is built using existing, proven, resilient, scalable, high-performance exchange infrastructure, hosted in top-tier data centre space, and integrated into the existing institutional trading workflow.
For more information, go to www.archax.com
