In an effort to expand its institutional-grade coverage of crypto assets, Timechain has partnered up with the Firelocks network. Consequently, Timechain now has access to hundreds of institutional network players, including large global banks, OTCs, asset managers, liquidity providers, and hedge funds. DeFi, NFTs, and TimechainSwap incentives are just a few of the services Timechain provides.
On the other hand, crypto-centric and blockchain companies rely on Fireblocks to keep their digital assets safe. They have carved out a niche by helping institutional clients protect their digital assets by safeguarding private keys, API credentials and eliminating the requirement for deposit addresses.
Timechain has seen a six-fold increase in the number of participants in its network since its introduction in mid-2020. Today, more than 400 participants are on the platform. Also, there will be a wide range of DeFi solutions and crypto asset management available to Timechain following its collaboration with Fireblock.
“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,” said Louis Cléroux, CEO of Timechain. He added that the company would also be expanding its reach to the public to spread crypto literacy.
On his part, Michael Shaulov, CEO and co-founder of Fireblocks, expressed his excitement at the company’s expansion in Canada. He pointed out that Fireblock will benefit from Timechain’s rich client base, while Timechain will leverage Fireblock’s cutting-edge security features. Consequently, Timechain will be better placed to introduce new asset classes without spending much time and resources working on security.
Timechain is a Canadian registered Money Services Business (MSB) specializing in managing digital assets and DeFi services. It is the mother company to TimechanSwap, a Distributed Exchange (DEX) aggregator powered by TCS token. Timechain integrates different DEXs into one platform, enabling users to find the best swapping opportunities. It is in the process of creating its own DEX, which will offer DeFi support, yield farming, staking and other features.
Fireblocks is a crypto-centric platform that provides security solutions for moving, storing, and issuing digital assets. To date, it has secured digital assets transactions worth over $2 trilllion and onboarded over 10000 financial institutions. Fireblock’s Network and MPC-based Wallet Infrastructure insulate transactions on the platform.