Bitstamp, a European cryptocurrency exchange and largest by trade volume, today announced they have integrated with Fireblocks to enable select institutional clients to move assets more efficiently by becoming the first exchange on the platform to support transactions with just one confirmation.
Fireblocks is an enterprise platform for securely moving digital assets. It is used by some of the largest institutions to safely and easily move assets between exchanges, counterparties, custodians and other wallets, which simplifies operations and provides a high level of security for organizations that often move large amounts of assets.
By integrating with Fireblocks, Bitstamp has made it easier for their customers to move assets between the different platforms they use. Additionally, Bitstamp is introducing an optimized process for the clearing and settlement of cryptocurrency transactions on Fireblocks.
“As the infrastructure available to institutional cryptocurrency traders continues to mature, transaction speed is increasingly coming into focus as a potential bottleneck, by integrating with Fireblocks, we’ve made it much simpler for our customers to initiate transactions between different platforms. The lower confirmation requirement we’ve introduced is the next step towards more efficiency, allowing the transactions themselves to complete faster.”
– Miha Grčar, Bitstamp’s Global Head of Business Development
As the first exchange to enable faster clearing and settlement of crypto transactions on Fireblocks, Bitstamp is taking a proactive approach to what seems to be the next frontier in institutional cryptocurrency trading. Currently, cryptocurrency transactions with just one confirmation are only available to select institutional customers, with plans to expand availability to more of the Fireblocks network soon.