Cryptocurrency Liquidity Provider, Enigma, Joins Fireblocks Asset Transfer Network

According to a statement sent to the BEG desk, Enigma will join the Fireblocks’ open network, Asset Transfer Network, currently hosting over 55 top industry players, barely a month since its launch. Some of the industry-leading firms include crypto exchanges such as OKEx, Bitstamp, and Bithumb; decentralized lending platform, Compound, and New York-based Signature Bank were added last week.

Fireblocks’ network provides a secure gateway for exchanges, the DeFi platform, custodians, wallets, and other firms transacting digital assets. Furthermore, the network offers instant settlement between network participants increasing companies’ “efficiency in both settlement and quality client relations”. Michael Shaulov, CEO of Fireblocks said,

“Each time we add a new member like Enigma to the Fireblocks Network, business opportunities for each other member on the Network increase significantly.”

“With nearly 60 institutions onboarded today, each new member added is a step closer to a fully secure and connective institutional asset trading ecosystem.”

Enigma launched in 2017 as a crypto-focused subsidiary of an international brokerage firm, Makor Group aiming at providing liquidity solutions for institutional investors getting into the digital asset field. The partnership with Fireblocks will enhance this goal by providing a secure transfer network. In an email to BEG, the head of trading at Enigma Securities, Jordan Ettedgui said,

“We are very pleased to be able to officially join the Fireblocks Network and look forward to the high-security standard, as well as the increase in operational efficiency, this partnership will bring.”

A partnership with Fidelity-backed Fireblocks, which reported over $30 billion in total digital asset transfers in April, opens a secure pathway for institutions in the field to transfer and settle digital assets.